California Steel Industries notified customers on Monday, Sept. 21, that it has raised prices on its flat rolled products by $60-70 per ton ($3.00-3.50/cwt) due to changing market conditions. Effective immediately on all unconfirmed orders, prices for hot rolled, P&O and galvanized have increased by a minimum of $60 per ton, while cold rolled is up by $70 per ton.
CSI also has opened its flat rolled order book for November and December to enable orders to be produced without being affected by annual maintenance scheduled on the company’s hot mill in December. All pricing is subject to slab availability and mill capacity, the company said.
Slabs may be in tight supply in the fourth quarter as a result of the Trump administration’s decision to dial back the quota on imports from Brazil. The decision will limit the amount of Brazil’s semifinished steel exports to the U.S. for the rest of the year to 60,000 metric tons, down from 350,000 tons.
CSI last raised flat rolled prices less than a month ago, on Aug. 26, when it announced a $50-60 hike. Domestic steelmakers have announced a series of price increases on flat rolled and plate products since May, as the economy and steel demand recover from the coronavirus, bringing the spot market price for hot rolled to about $600 per ton.
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