Steel Products
Mills Raise Flat Rolled Steel Prices by $30
Written by Tim Triplett
December 9, 2017
ArcelorMittal, California Steel Industries, NLMK USA and U.S. Steel all announced $30 per ton price increases on Friday. Their announcements follow on a similar hike by Nucor earlier this week.
In a letter to customers, U.S. Steel’s North American Flat-Rolled Sales Organization stated that, effective immediately, it was increasing base pricing for all new flat-rolled spot orders by a minimum of $30 per net ton. The increase is also applicable to all open quotations or negotiations where an agreement is yet to be concluded. Pricing extras will continue to be fully applied.
California Steel Industries notified its customers of a $30 per ton increase on Hot Rolled, Pickled & Oil, Cold Rolled and Galvanized, effective immediately on new and unconfirmed orders. “Your support has allowed us to achieve our planned capacity for Hot Rolled/Pickled & Oil production and shipment for January 2018,” CSI also reported to customers. “Therefore, our order books are now closed. We have very limited capacity available for cold rolled and galvanized for the balance of January.”
Arcelor Mittal USA told customers that, effective immediately, minimum prices on sheet products are as follows: Hot Rolled $680 per ton; Cold Rolled $860 per ton; and Hot-Dipped Galvanized $860 per ton. The prices are applicable on all new and unconfirmed orders or quotations from ArcelorMittal USA or AM/NS Calvert.
Likewise, NLMK USA reported it is raising base prices immediately on all new spot business by $30 per ton. Open quotations and unconfirmed orders are subject to revision.
{loadposition reserved_message}
Tim Triplett
Read more from Tim TriplettLatest in Steel Products
September energy market update
In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels through September. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
U.S. Steel to halt slab conversion at Granite City Works
U.S. Steel said it plans to reduce slab consumption at its Granite City Works near St. Louis, a company spokesperson said on Monday. The Pittsburgh-based steelmaker will shift the production and processing of steel slabs to its Mon Valley Works near Pittsburgh and its Gary Works near Chicago. Citing a United Steelworkers (USW) union memo, […]
SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.
HR Futures: Market finds footing on supply-side mechanics
As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.