Steel Products Prices North America

More Flat Rolled Mills Tack On $30
Written by John Packard
August 17, 2017
The number of U.S.-based flat rolled steel mills announcing price increases on hot rolled, cold rolled, galvanized and Galvalume has reached six.
On Tuesday of this week, Nucor Sheet Mill Group became the first flat rolled steel mill to raise transaction pricing on spot flat rolled steel. The Nucor increase was for a “minimum” of $30 per ton ($1.50/cwt) and was to be effective “immediately.”
A little later in the day, first ArcelorMittal USA then NLMK USA and California Steel Industries added their company names to the $30 per ton price increase parade.
USS/POSCO (UPI) also sent out a letter to their customers advising that they too are taking prices up $30 per ton.
On Wednesday, U.S. Steel advised customers of their intention to raise prices by $30 per ton. The U.S. Steel announcement letter was the first one seen in quite some time. USS has been informing their customers via one-on-one discussions as opposed to putting out what soon becomes a public document.
Later Wednesday, AK Steel became the sixth U.S. based flat rolled mill to announce an increase. AK Steel published a press release on their website raising spot prices by the same $30 per ton announced by the other flat rolled producers.
SMU spoke with a large flat rolled steel service center this afternoon who told us they have been offered spot hot rolled at $620 per ton ($31.00/cwt), cold rolled at $800 per ton base ($40.00/cwt) and galvanized at a $820 per ton ($41.00/cwt). These are essentially unchanged from where they were being offered prior to the increase announcements.
We will watch the markets carefully in the coming days for signs that the steel mills are serious about collecting the latest price increase.

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

SMU Price Ranges: Sheet and plate steady ahead of Independence Day
Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.

Nucor maintains plate prices, opens August order book
Nucor aims to keep plate prices flat again with the opening of its August order book.

Nucor CSP remains level at $900/ton
Nucor maintained its weekly list price for hot-rolled (HR) coil this week, following two consecutive increases.

Cliffs raises prices, seeks $950/ton for July spot HR
Cleveland-Cliffs plans to increase prices for hot-rolled (HR) coil to $950 per short ton (st) with the opening of its July spot order book. The Cleveland-based steelmaker said the price hike was effective immediately in a letter to customers dated Monday.

HRC vs. prime scrap spread widens in June
The price spread between HRC and prime scrap widened in June.