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.
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