Prices
U.S. Steel Mills Raise Spot Flat Rolled $30 Ton
Written by John Packard
June 6, 2017
All of the major flat rolled steel producers have approached their customers and advised them of their intention to increase hot rolled, cold rolled, galvanized and Galvalume prices by a minimum of $30 per ton. As of this evening (Tuesday, June 6, 2017) we have seen price announcements out of California Steel Industries, USS Posco (UPI), NLMK USA, ArcelorMittal USA, Nucor, AK Steel and US Steel.
On Friday, June 2, 2017 California Steel Industries (CSI) became the first domestic steel mill to announce a $30 per ton price increase on all of their flat rolled steel products (hot rolled, hot rolled pickled & oiled, cold rolled and galvanized). The California Steel Industries announcement was unusual in that the mill opened their order book for the first two weeks of July instead of the full month of July. The announcement then went on to increase transaction prices by $30 per ton.
On Monday, June 5, 2017 Nucor Sheet Mill Group and NLMK USA announced to their customers of their intention to take hot rolled, cold rolled and galvanized up by a minimum of $30 per ton effective immediately. West coast steel mill USS/POSCO (UPI) followed the lead of California Steel and moved their numbers up by the same $30 per ton. ArcelorMittal USA sent an email to their customers advising that there mills would be raising prices by that same $30 per ton.
On Tuesday we had US Steel put out a written price increase announcement for $30 and by late in the day AK Steel released their increase via a press release which can be viewed under the “news” tab in the AK Steel website.
We have reaction from steel buyers in a separate article in tonight’s newsletter.
John Packard
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