Steel Products

Flat Rolled Price Up $40 at ArcelorMittal
Written by Tim Triplett
January 30, 2019
Steel Market Update has confirmed that ArcelorMittal joined the other major mills in raising flat rolled steel prices this week.
ArcelorMittal notified its commercial team that it is raising base prices a minimum of $40 per ton on all light flat rolled sheet products, effective immediately. The increase applies to all new and unacknowledged orders with ArcelorMittal or AM/NS Calvert. All current published extras continue to apply.
{loadposition reserved_message}
Comparable $40 increases were also announced by Nucor, U.S. Steel, NLMK, California Steel Industries and USS-POSCO. The mills hope to stop, if not reverse, the downtrend in steel prices that began last summer. The benchmark price for hot rolled steel has declined by more than 25 percent since July 2018.

Tim Triplett
Read more from Tim TriplettLatest in Steel Products

Active rig count declines in US, Canada
Oil and gas drilling activity slowed in the US and Canada this past week. An unfamiliar trend after both regions saw repeated gains of late.

Plate market buzzes with rumors of secret deals from mills
Carbon steel plate market participants suspect that this week’s modestly softer prices are the result of quietly negotiated prices between plate purchasers and mills.

HR Futures: Forward curve shifts lower, structure maintains
Scraping lower-quartile $800s on nearby futures is bringing limited trading ideas for CME hot-rolled coil (HRC) at present.

Nucor drops HR spot price to $865/ton
Nucor has lowered its hot-rolled (HR) spot price by another $10 per short ton (st) this week.

SMU Week in Review: Aug. 11-15
With so much happening in the news cycle, we want to make it easier for you to keep track of it all. Here are highlights of what’s happened this week and a few things to keep an eye on.