Steel Products
AK, NLMK Join Price Hike Parade
Written by Tim Triplett
January 3, 2018
AK Steel and NLMK USA raised spot market base prices on all carbon flat-rolled steel prices by $40 per ton today, matching similar $40 hikes on hot rolled, cold rolled and galvanized steel products yesterday by Nucor and U.S. Steel. All four companies said the increase is effective immediately on new orders and will not affect pricing extras.
NLMK informed customers that the increase is “due to increasing strength in market demand, extended lead times, and rising raw material costs.”
First to raise prices this week were West Coast mills California Steel Industries and USS-POSCO, which both announced flat roll increases of $30 per ton on Tuesday.
{loadposition reserved_message}
Domestic flat rolled steel producers have been striving to collect higher prices for the past quarter. U.S. Steel’s last price hike announcement on flat roll was $30 on Nov. 16. Nucor announced increases of $40 per ton on Oct. 18, $30 per ton on Nov. 15 and $30 per ton on Dec. 8. NLMK raised prices by $40 on Oct. 18, $30 on Nov. 15 and $30 on Dec. 18. AK Steel’s last increase was $30 per ton on Nov. 16.
The series of price hikes come as no surprise to most in the marketplace, which expected the mills to position themselves for what is expected to be a strong first quarter for the U.S. economy.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products
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.
Rig count increases in the US and in Canada
Oil and gas drilling activity increased this week in the US and Canada for the third consecutive week, according to the latest Baker Hughes rig count data. US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.