Steel Products Prices North America
Mills Announce $40 Increase in Flat Rolled Prices
Written by Tim Triplett
July 21, 2020
U.S. Steel, USS-POSCO Industries (UPI) and AK Steel each announced a $40 increase in flat rolled steel prices on Tuesday, July 21, hoping to reverse the slide that has cut about $120 per ton from steel prices since the coronavirus struck in mid-March.
U.S. Steel’s North American Flat-Rolled Sales Organization informed customers today that base pricing for all new flat-rolled spot orders is increased by a minimum of $40 per net ton, and pricing extras will continue to be fully applied as published.
USS-POSCO Industries (UPI) followed suit, raising its base prices for all hot rolled P&O, cold rolled and galvanized products by $40 per net ton.
Cleveland-Cliffs, Inc., parent company of AK Steel, announced that it also has increased spot market base prices for all carbon flat-rolled steel, including hot rolled, cold rolled and coated products, by a minimum of $40 per ton, effective immediately on new orders in North America.
The last flat rolled price hike by the major mills was exactly two months ago, on May 21, when they announced a similar $40 increase, which subsequently failed to stick.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America
CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]