Steel Mills
CSI Closes June Flat Rolled Order Book
Written by Michael Cowden
March 24, 2021
California Steel Industries (CSI) has closed its June flat rolled order book 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 July,” CSI said in a letter to customers dated Wednesday, March 24.
The closure of the June order book means CSI’s lead times are into the third quarter before the first quarter has ended.
CSI announced it had opened its June order book on Wednesday, March 17. The company also quietly rolled out a price hike of $90 per ton ($4.50/cwt) at the same time, market participants have said.
But higher tags didn’t deter buyers in need of tons, one West Coast service center source said.
And U.S. steel prices in the meantime continue to reach new all-time highs.
SMU’s average U.S. hot-rolled coil price stands at $1,315 per ton, up 8.7% from $1,210 per ton a month ago and up 33.5% from $985 per ton at the beginning of the year.
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
SDI profits soar in Q3’25 amid ‘record’ steel shipments
Steel Dynamics Inc.’s third-quarter profits jumped year over year as the company saw “record” quarterly steel shipments
Cliffs leans hard into auto after aluminum supply chain shock
Cleveland-Cliffs executives pointed to growing automotive demand as the engine driving a turnaround at the company.
CMC to strengthen precast position with Foley Products acquisition
Commercial Metals Co. (CMC) will acquire Newman, Ga.-based Foley Products Co. for $1.48 billion, making it the number three US precast concrete producer.
Cliffs posts Q3 loss, but sees upside in slab contract exit and auto deals
Cleveland-Cliffs Inc. pointed to signs of recovery in its third-quarter earnings report on Monday. Improved automotive volumes and a better product mix drove sequential gains, but the steelmaker’s financials continue to bled red.
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.