Market Segment
AM/NS Calvert Quietly Increases FR Prices $40/Ton
Written by Michael Cowden
February 17, 2021
AM/NS Calvert has quietly increased prices for new spot orders by $40 per ton ($2/cwt), according to market participants.
The move–which was effective on Feb. 16 but not widely announced–will see base prices for hot-rolled coil increase from $1,160 per ton to $1,200 per ton, sources said.
Base prices for cold-rolled and coated products will increase from $1,320 per ton to $1,360 per ton for coated products, they said.
But there is almost no spot availability for coated products. And that spot shortage is especially severe when it comes to Galvalume and aluminized material, sources said.
The AM/NS Calvert price hike comes after California Steel Industries (CSI) opened its May order book on Feb. 16 and quietly raised prices as well.
AM/NS Calvert is a 50/50 joint venture between ArcelorMittal and Nippon Steel. The mill, located in Alabama, converts slabs and has annual flat-rolled capacity of 5.3 million tons, according to the company’s website.
The facility makes hot-rolled, cold-rolled, and coated products for the appliance, HVAC, construction, distribution, and pipe and tube markets.
Higher prices from some domestic mills come as Steel Market Update’s average flat-rolled steel prices continue to test new highs.
Case in point: SMU’s average hot-rolled coil price now stands at $1,200 per ton, another record high. That price is up 11.1% from $1,080 per ton in mid-January and up 172.7% from a 2020 low of $440 per ton recorded in August.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
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