ArcelorMittal Announces Price Increase- USS, NLMK, Severstal Follow

In an email sent late in the afternoon on Monday, March 17th, ArcelorMittal USA announced a price increase on all of their new flat rolled orders, with specific base prices at $33.00 for hot rolled, $39.50 for cold rolled, and $39.50 for galvanized. The mill justified their increase by stating “Despite the recent drop in scrap prices, energy and transportation costs have skyrocketed and offset any cost benefit in our operations that may be incorrectly perceived.”

The next day, two other steel mills followed the lead of ArcelorMittal by raising their prices, NLMK USA and US Steel. The new base prices out of NLMK were the same as those from ArcelorMittal, while the US Steel announcement stated a $40 per ton increase on spot orders rather than stating a firm base price. By the end of the week essentially all of the domestic mills had either followed AM lead or chose to use the USS approach with a $40 per ton price increase announcement.

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.