Steel Products Prices North America

ArcelorMittal Follows Nucor Lead on Flat Rolled Price Increases
Written by John Packard
January 14, 2016
On Tuesday evening ArcelorMittal advised their customers of their intention to raise carbon flat rolled sheet prices. In an email to their customers the mill advised that they would be raising prices on hot rolled, cold rolled and coated steels (galvanized and Galvalume). The mill told their customers:
“Effective immediately with all new quotations, ArcelorMittal USA LLC will be increasing our spot market base prices on all new orders for hot rolled, cold rolled and coated products by a minimum of:
• Hot Rolled$20/ton
• Cold Rolled$30/ton
• Coated$30/ton
These increases are necessary in order to restore some level of profitability to our business. We have experienced an increase in order entry of products due to a reduction in inventories and the continued strength of the consumer driven industries, automotive and appliances. If you have any questions, please do not hesitate to contact me. Thank you for your support.”
The ArcelorMittal increase mirrors that of Nucor announced earlier this week. Since early December ArcelorMittal has (on paper) taken sheet prices up a total of $60 per ton on hot rolled and $70 per ton on cold rolled and coated steels.
Prior to the most recent mill announcements, the domestic mills have been able to collect $20-$40 per ton of the previously announced increase. With this announcement the expectation is for the remainder of the first announcement will be collected over the short term. It remains to be seen if the mills will be able to collect part, or all, of this week’s announced increases. Steel Market Update will be watching developments very closely in the days and weeks ahead.

John Packard
Read more from John PackardLatest in Steel Products Prices North America

SMU Price Ranges: HR holds, galv slips amid competing market narratives
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.

Nucor carries $875/ton HR list price into week seven
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Oct. 6

SMU Price Ranges: A newsy week sees modest price gains despite a quiet spot market
Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.

Nucor increases plate prices by $60/ton
Nucor aims to increase prices for steel plate by $60 per short ton with the opening of its November order book.

Nucor’s $875/ton HR spot price spills into week six
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Sept. 29.