Steel Mills
California Steel and USS/Posco Raise Flat Rolled Spot Pricing
Written by John Packard
December 15, 2015
USS/Posco (UPI) and California Steel both sent out letters over the past few working days advising their customers of their intention to raise prices on spot flat rolled orders.
On December 11, 2015 USS/Posco sent out a letter announcing $40 per ton.
On Monday, December 14, 2015 California Steel Industries (CSI) opened their February order book and at the same time they announced a $40 per ton ($2.00/cwt) increase on all of their flat rolled products.
According to one of our West Coast sources, the California Steel price increase announcement letter came with comments from sales telling their customers that “for you” the price increase was only going to be up $20 per ton (not the full $40).
West Coast foreign hot rolled offers were reported to be $380 EDDP out of Korea and Japan. Cold rolled offers are reported to range from $435 base up to the high $440’s. The countries mentioned the most are Thailand, Korea and Vietnam.
Galvanized prices are harder to gauge as they are normally quoted “effective” (freight, duties and all extras already incorporated into the number). One of our sources on the West Coast advised us that they are seeing GI effective numbers in the $27.00/cwt-$32.00/cwt range with Brazil being the most aggressive.
John Packard
Read more from John PackardLatest in Steel Mills
Nucor lowers 2024 output estimate for Brandenburg plate mill
Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.
SSAB adjusts output in weak Q3, readies for Q4 rebound
SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]
Topalian puts focus on “unfair” trade, eyes USMCA partners
Nucor’s top executive expressed concerns over unfair trade practices, highlighting increased steel imports from Mexico and Canada.
Cliffs sees close of Stelco buy, bottom to steel tags, and Mexico out of USMCA
Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.
Nucor posts lower Q2 earnings, predicts tough Q3 too
Nucor recording lower second quarter earnings on falling steel prices. And the Charlotte, N.C.-based predicted that profits would be lower still in the third quarter, primarily because of weaker results from its steel mills divisions.