Prices
ArcelorMittal, NLMK Raise Flat Rolled Price by $40 Per Ton
Written by Tim Triplett
October 24, 2019
Speculation that steel prices were near the bottom and the mills were contemplating a price increase has proven out as ArcelorMittal and NLMK USA both announced flat rolled price increases today of $40 per ton. Other mills are expected to follow.
ArcelorMittal informed its commercial team today that it is raising base prices on light flat rolled sheet products, including hot rolled, cold rolled and coated products, by a minimum of $40 per ton, effective immediately. The increase is applicable to all new orders and recent quotations that have not yet been accepted by ArcelorMittal or AM/NS Calvert.
Likewise, NLMK USA increased base prices on spot orders of all its products by $40 per ton.
The last time ArcelorMittal and NLMK USA raised flat rolled prices was three months ago, on July 22-23, also by $40 per ton, but that increase gained little traction in the market. Since the beginning of the year, the benchmark price for spot orders of hot rolled steel has declined from more than $700 per ton to the current $470, according to SMU data.
Tim Triplett
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