Steel Mills

CSI Closes May Flat-Rolled Order Book
Written by Michael Cowden
February 24, 2021
California Steel Industries (CSI) has closed its May order booked for flat-rolled steel just a week after opening it.
“We want to thank you for your continued support during these difficult times. … We will contact you when we open the Flat Rolled order book for June,” CSI said in a Feb. 23 letter to customers.
The West Coast slab converter quietly increased prices, as did other U.S. mills, when it opened its May flat-rolled book on Feb. 16.
Partly as a result of those efforts, Steel Market Update’s average hot-rolled coil price continues to trek upward. But the pace of increases has moderated.
SMU’s hot-rolled coil price now stands at $1,210 per ton ($60.50/cwt), up $10 per ton from a week ago. Early January, in contrast, saw week-over-week gains of as much as $50-70 per ton.
CSI, approximately 50 miles east of Los Angeles in Fontana, Calif., makes hot-rolled, pickled-and-oiled, cold-rolled and galvanized products as well as welded pipe.
The company is a 50-50 joint venture between Brazilian iron ore miner Vale and Japanese steelmaker JFE.
By Michael Cowden, Michael@SteelMarketUpdate.com

Michael Cowden
Read more from Michael CowdenLatest in Steel Mills

CMC Q4 profits rise on improved market conditions
CMC reported higher net earnings in its fiscal fourth quarter on "better market conditions" across its segments.

AISI: Raw steel production drops to multi-month low
After being historically strong for more than four months, US raw steel production fell for a second week.

U.S. Steel sues Algoma over iron pellet shipments
U.S. Steel is suing Algoma over the Canadian flat-rolled producer's rejection of iron pellet shipments, arguing it has breached its contract.

August US mill shipments slip but still higher than last year
The American Iron and Steel Institute reported a decline in the monthly shipments of US mills from July to August.

TransPod, Algoma, Supreme Steel linkup anchors Canadian steel in high-speed transit build
The three Canadian companies have announced a strategic partnership to support the development of an ultra-high-speed transit line from Edmonton to Calgary.