Steel Mills
US Steel Joins the Party, Posts $50/ton Sheet Price Hike
Written by David Schollaert
February 13, 2023
US Steel Corp. got in on the action and increased spot prices for carbon steel sheet by at least $50 per ton ($2.50 per cwt).
The move is effective immediately, the company said in a letter to customers dated Monday, Feb.13, and joining Nucor and Cleveland-Cliffs in their efforts to boost sheet tags.
The latest price hike by the Pittsburgh-based steelmaker 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 letter said.
US Steel also said that pricing extras and fuel surcharges would be applied fully in addition to the latest round of base-price increases.
The steelmaker didn’t announce a target price for hot-rolled coil, unlike Nucor and Cliffs – which both said they were aiming for $900 per ton for HRC.
By David Schollaert, david@steelmarketupdate.com
David Schollaert
Read more from David SchollaertLatest in Steel Mills
Nucor to Partner with Fusion Company to Power US Mill
Nucor has announced a collaboration with fusion power company Helion to develop a 500-megawatt nuclear fusion power plant.
USW Taps McCall as New President After Conway’s Passing
The United Steelworkers International (USW) executive board on Tuesday appointed David McCall as the union’s new international president. He will fill the remainder of Tom Conway’s term.
USW International President Tom Conway Dies at 71
Tom Conway, international president of the United Steelworkers (USW) union since 2019, has died at age 71.
Stelco Considering Bid for U.S. Steel: Bloomberg
Canadian steelmaker Stelco Holdings Inc. is now in the mix to purchase U.S. Steel, according to an article in Bloomberg on Thursday, which cited people familiar with the matter.
USS Expects Lower Q3 Earnings, Says UAW Strike Partly To Blame
U.S. Steel expects earnings to drop in the third quarter vs. the prior quarter and the same period a year earlier as the company adjusts production because of the United Auto Workers (UAW) union strike.