Steel Mills
CSI Opens June Flat-Rolled Books, Increases Prices
Written by Michael Cowden
March 17, 2021
California Steel Industries (CSI) has opened its June flat rolled orderbook, and the West Coast slab converter has also increased prices by as much as $90 per ton ($4.50/cwt), according to market participants.
“The purpose of this letter is to inform you that CSI’s June flat rolled orderbook is now open,” the company said in a letter to customers on Wednesday, March 17.
The letter did not specify an increase. But sources said CSI had offered them hot-rolled coil at $1,330 per ton, up from $1,240 per ton previously.
The increase could put CSI on par with mills east of the Rocky Mountains, some of which are offering hot band for as much as $1,340 per ton. And several sources think that prices east of the Rockies could go higher still when other domestic producers re-open their orderbooks.
U.S. hot-rolled coil prices, meanwhile, are already at all-time highs.
Steel Market Update’s average hot-rolled coil price stands at $1,300 per ton, up nearly 32% from $985 per ton at the beginning of the year and nearly triple an August low of $440 per ton.
SMU’s prior high was $1,070 per ton in July 2008. That’s $1279.41 per ton when adjusted for inflation, according to a U.S. Bureau of Labor Statistics inflation calculator.
CSI, approximately 50 miles east of Los Angeles in Fontana, Calif., has the capability to make hot-rolled, pickled-and-oiled, cold-rolled and galvanized products as well as welded pipe.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Mills
Despite trade chaos, Barry Schneider upbeat on SDI, steel
With 30 years of experience at Steel Dynamics, Barry Schneider reflects on the company and the state of the steel industry.
Algoma Steel seeks CAD$500M in operational support
Algoma Steel applied to Canada’s federal Large Enterprise Tariff Loan (LETL) program for $500 million to support its long-term operations.
SDI concerned with potential Brazil pig iron tariffs
Steel Dynamics Inc. (SDI) executives called a 50% tariff on Brazilian pig iron “concerning,” but think tariffs will be a “mainstay” of trade agreements going forward.
SDI earnings slip in Q2 as trade volatility hits customer orders
SDI profits slipped in second quarter amid trade policy volatility.
Cliffs puts ‘for sale’ signs up after another big quarterly loss
Cleveland-Cliffs lost more than $400 million for the third consecutive quarter but predicted results would improve in the second half of the year. And shares of the Cleveland-based steelmaker surged after company executives said during its Q2 earnings call on Monday that they could make billions by courting foreign investors or selling assets.