Economy

NLMK USA, ArcelorMittal Dofasco Also Push to Raise Prices

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

Laura Miller is a reporter and editor for Steel Market Update. Since 2007, she has held various editorial and marketing positions with steel industry publications, associations, and mills. In 2021, after a five-year hiatus working across other industries, she returned to steel trade journalism, joining SMU in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.