Steel Products
ArcelorMittal Raises Flat Rolled Base Prices
Written by John Packard
October 18, 2017
ArcelorMittal USA began advising their customers late on Tuesday (October 17, 2017) of their intention to raise flat rolled steel base prices. In an internal memo sent to the ArcelorMittal commercial team the mill advised, “All new opportunities for hot rolled, cold rolled and coated sheet products that require delivery in the 4th Quarter of 2017 should be specifically inquired for production availability before any formal or verbal acceptance of an order takes place.”
The mill then went on and advised that the following “minimum” base prices on sheet products are to be in effect “immediately”:
Hot Rolled = $625 per ton ($31.25/cwt)
Cold Rolled = $825 per ton (41.25/cwt)
Galvanized = $825 per ton ($41.25/cwt)
The pricing was to be applicable “…to all new orders and recent quotations that have not yet been accepted and/or acknowledged with an ArcelorMittal USA or AM/NS Calvert Order Acknowledgement.”
The memo stated that the mill has experienced a “significant increase in order entry for sheet products and, as a result, have limited production availability for the balance of the year at both our traditional and AM/NS Calvert facilities.”
Steel Market Update expects other mills to react to this announcement either later this week or early next week depending on the strength of their order books through the end of the calendar year.
John Packard
Read more from John PackardLatest in Steel Products
CRU: EC to toughen steel safeguards
The European Commission proposes cutting its steel import quota by almost half, with volumes exceeding the limit facing 50% duties. The region’s steel industry welcomes the move, while other steel-producing nations fear the consequences. CRU published an insight before this announcement, noting that more restrictive trade policy could significantly raise the cost of marginal supply […]
US and Canadian rig counts stabilize
US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.
Plate market sources critique mill hikes amid current market conditions
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."
Oregon Steel Mills lifts plate prices by $60/ton
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.
CRU: Construction of pilot plant for green steel process starts
Voestalpine and partners have begun building an industrial-scale Hy4Smelt demonstration plant in Linz, Austria, which they hope will become key in the decarbonization of steel.