Steel Products
ArcelorMittal USA Sets Higher Minimums for Flat Rolled
Written by Tim Triplett
September 30, 2020
Following on the heels of plate price increases announced this week, the mills have begun raising prices on flat rolled as well.
Sources tell Steel Market Update that ArcelorMittal USA has informed customers of new minimum base prices of $650 per ton for hot rolled, and $850 per ton for cold rolled and coated products, effective immediately. Other mills are expected to follow.
Various mills announced higher flat rolled prices in August and September. The last flat rolled increase by AMUSA was a hike of $40 per ton on July 22. Steel Market Update’s check of the market this week puts the average spot price for hot rolled steel at $605 per ton.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products
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.
Plate market sources critique mill hikes amid current market conditions
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."
Oregon Steel Mills lifts plate prices by $60/ton
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.