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
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