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.
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 MillerRead more from Laura Miller
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