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.
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