Prices
July 7, 2014
June Pricing Recap
Written by John Packard
The month began pretty much the same way it ended with one of the domestic integrated mills attempting to influence pricing by making a flat rolled steel price announcement. Early in June ArcelorMittal announced specific base price levels in an attempt to stem the slide which had already begun at that point in time. The ArcelorMittal suggested price levels were $680 on hot rolled ($34.00/cwt) and $810 base price levels on cold rolled and coated ($40.50/cwt).
As the month of June progressed, benchmark hot rolled pricing slipped from $675 per ton (SMU index at the end of May) ending the month at $660 per ton.
One June 23rd US Steel announced a $25 per ton flat rolled steel price increase which, too date, had not been publically followed by any other domestic mill. This is not to say that prices are crashing by any stretch of the imagination as the domestic mill continue to press their case and supply remains constrained at some mills and relatively available at others.
