Mills Raise Flat Rolled Prices by $40 Per Ton

U.S. Steel also notified customers it is increasing base pricing for all new spot orders of flat-rolled products by a minimum of $40 per net ton. The increase is applicable to all open quotations and/or negotiations where an agreement is yet to be concluded. Pricing extras, as published on the USS corporate website, will continue to be fully applied, the company said.

Likewise, USS-POSCO Industries raised the base price of hot rolled P&O, cold rolled and galvanized by $40 per net ton, effective immediately on unconfirmed orders, with no change to the published price book extras.

Sources tell Steel Market Update they have been informed by ArcelorMittal USA of a comparable $40 increase, though without an “official” letter.

Spot steel prices have been on a downward slide, declining by about $80 per ton since this summer. The last round of price increase announcements by the flat rolled mills dates back to the first quarter of this year.