Steel Mills

CSI Opens October, Raises Prices and Closes in a Week

Written by Michael Cowden

July 27, 2021

California Steel Industries (CSI) has closed its flat-rolled steel order book for October just a week after opening it.

“We want to thank you for your continued support. … We will contact you when we open the flat rolled order book for future orders,” the company said in letters to customers.

CSIThe West Coast slab converter opened its October books on Monday, July 19, and closed them on Monday, July 26, according to the letters.

CSI also opened and closed its September order book after just one week.

The company did not officially announce any price increases when it opened its October books. But market participants said the company quietly raised prices by approximately $80 per ton ($4 per cwt).

That resulted in hot-rolled coil base prices going from approximately $1,860 per ton ($93 per cwt) in September to $1,940 per ton ($97 per ton) in October. The increase also brought cold-rolled coil and galvanized base prices to approximately $2,180 per ton ($109 per cwt), sources said.

CSI is expected to open November books in mid-August and is likely to raise prices then yet again, they said.

The company, 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.

By Michael Cowden, Michael@SteelMarketUpdate.com

Michael Cowden

Michael Cowden is managing editor for Steel Market Update. Cowden has covered the steel industry since 2007. He has since 2014 specialized in flat-rolled steel but has previously reported on steel long products, steel pipe and tube as well as aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago - where he was involved in launching AMM's daily hot-rolled coil index, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

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