On Friday California Steel Industries (CSI) and later in the day UPI (USS-POSCO Industries) increased base prices on flat rolled products produced by each mill.
California Steel was the first mill to move, raising prices on hot rolled by $100 per ton, HRP&O by $100 per ton ($5.00/cwt) and cold rolled and coated by $120 per ton ($6.00/cwt). The prices are effective immediately.
The USS-POSCO letter was sent later in the day and UPI mirrored the CSI increase announcement by taking HRP&O up by $100 per ton ($5.00/cwt) and cold rolled and galvanized up by $120 per ton.
West Coast customers told SMU the amount of the increase is not a surprise as the West Coast steel mills have been lagging behind the mills in the East who have been announcing more than one increase during any one month. The $100 to $120 per ton is to catch the West Coast mills up to their brethren east of the Rocky Mountains.
Both CSI and UPI published new coating weight extras during the month of November and their new extras are in effect for any February spot orders.
John PackardRead more from John Packard
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