ArcelorMittal USA First Mill to Announce 4th Round of Price Increases

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.