Steel Products Prices North America
ArcelorMittal USA First Mill to Announce 4th Round of Price Increases
Written by John Packard
November 29, 2016
Today ArcelorMittal USA announced new minimum base price levels for orders of hot rolled, cold rolled and coated products. This is the 4th flat rolled steel price announcement since late October.
The announcement takes base prices to the following minimum levels:
Hot Rolled = $600 per ton ($30.00/cwt)
Cold Rolled = $820 per ton ($41.00/cwt)
Galvanized = $820 per ton ($41.00/cwt)
Galvalume = $820 per ton ($41.00/cwt)
The mill advised their customers, “These prices are applicable to all new orders and recent quotations that have not been accepted and acknowledged with an ArcelorMittal or AM/NS Calvert Order Acknowledgement. We reserve the right to change any outstanding quotations or pending orders without further notice.”
Prices on benchmark hot rolled bottomed at $470 per ton ($23.50/cwt) in late October 2016 according to the SMU HR Index. If the new base numbers are collected (and they were expected by the vast majority of steel buyers) it represents a total move of $130 per ton over the past six weeks.
SMU expectation is for the other mills to follow with increases of their own in the next few days.
John Packard
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