Economy
NLMK USA, ArcelorMittal Dofasco Also Push to Raise Prices
Written by Laura Miller
December 1, 2022
More North American steel producers are joining in the attempt to increase prices for steel sheet products.
NLMK USA said in a Dec. 1 letter to customers that “due to increased order placement and extending lead times,” its base prices will increase by a minimum of $60 per ton ($3 per cwt) for spot orders.
Canada’s ArcelorMittal Dofasco also said in a Nov. 30 letter to its commercial team that it will be raising spot market base prices by a minimum of CAD$80 per ton (US$60 per ton) on all new orders of hot-rolled, cold-rolled, and coated products.
“We will continue to monitor the marketplace and will respond accordingly with competitively priced product,” ArcelorMittal’s letter states.
The price hike attempts follow similar increases announced this week by other steelmakers including Cleveland-Cliffs, US Steel, Stelco, and Nucor.
Steel Market Update’s hot-rolled coil price registered an average of $625 per ton this week. That’s $10 per ton higher than last week and down $60 per ton from early November.
By Laura Miller, Laura@SteelMarketUpdate.com
Laura Miller
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