Steel Mills
US Steel Announces $60/Ton Sheet Price Hike
Written by David Schollaert
November 29, 2022
US Steel Corp. aims to increase spot prices for carbon steel sheet by at least $60 per ton ($3 per cwt).
The move is effective immediately, the company said in a press release on Monday, Nov. 28, and applies equally to all new orders of hot-rolled, cold-rolled, and coated steel products in North America. This includes all USS, USS-UPI, and Big River Steel facilities.
The Pittsburgh-based steelmaker last announced a price increase on Sept. 14, 2020, when it raised tags by at least $60 per ton. At that time, hot-rolled coil prices were $580 per ton and at the beginning of a historic run that saw tags ride a 56-week price rally, nearly reaching the $2,000-per-ton mark.
SMU’s HRC price now stands at $615 per ton, down $15 per ton from the previous week. marking the lowest price for HRC since late September 2020.
US Steel is the second mill to announce a price increase this week, as Cleveland-Cliffs also announced a $60-per-ton price increase on all flat-rolled products on Monday.
By David Schollaert, David@SteelMarketUpdate.com
David Schollaert
Read more from David SchollaertLatest in Steel Mills
Ternium raises budget for Mexico project
The steelmaker now expects the new steel slab mill in Pesquería will begin operations by Q4’26.
SSAB announces $74M expansion in Alabama
The project will expand heat treat capacity at its Axis, Alabama plant
ArcelorMittal’s EAF in Alabama expects first heat in Q2
The facility at AMNS Calvert will be the first EAF in North America capable of supplying exposed automotive grades with domestically melted and poured material.
Nucor’s Topalian lauds Trump’s trade policies, downplays impact
Nucor’s top exec Leon Topalian said the benefit of the current administration’s aggressive trade policies “trumps” any risk of potentially higher raw materials prices.
SSAB reports higher production, shipments
But profits slipped vs. last year.