Steel Products
CSI Raises Steel Price by $40 Per Ton
Written by Tim Triplett
July 12, 2019
California Steel Industries is the latest mill to raise flat rolled steel prices. In a letter to customers on Wednesday, the Fontana, Calif.-based steelmaker said transaction prices for hot rolled, P&O, cold rolled and galvanized steels would increase by $40 per ton ($2/cwt) effective immediately.
CSI’s move follows on similar announcements this week from Nucor, ArcelorMittal, USS-POSCO Industries, U.S. Steel and NLMK USA. The nation’s leading steel producers have announced two price increases in the past two weeks totaling $80 per ton in the hope of turning around a year-long decline in steel prices. The benchmark price of hot rolled steel, currently around $535 per ton, is down 40 percent from its $910 peak this time last year.
CSI is an opponent of the Trump administration’s Section 232 tariffs on steel imports. As a re-roller, CSI does not produce its own steel, but rather relies on semi-finished steel purchased from other countries. With an adequate supply of slabs, CSI has the capacity to produce 2 million tons per year of flat-rolled sheet and ERW pipe.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products
Active rig counts rise in US and Canada
Drilling activity increased in both the US and Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.
FabArc Steel Supply completes projects in Mississippi, Georgia
FabArc Steel Supply announced this week the completion of two large-scale projects in Georgia and Mississippi.
US rig count slips, Canada ticks higher
ncreases through September, according to the latest Baker Hughes rig count data.
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.