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.
The 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