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    December 3, 2022

    HRC Report: Market Reacts to Mill Price Increases

    Written by David Schollaert

    US hot-rolled coil (HRC) prices edged up slightly last week on a wave of $60-per-ton sheet price hikes announced by domestic mills. The move appears to have at least temporarily stopped the bleeding seen over the last two months. Time will tell if the price hike attempt finds support.

    Just about everyone announced an increase of at least $60 per ton ($3 per cwt). Cleveland-Cliffs was first out of the gate on Monday morning. Others followed, including Nucor, US Steel, and ArcelorMittal US. The latter announced new base prices: $700 per ton for hot-rolled and $950 per ton for cold-rolled and coated.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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