Steel Mills

US Steel Joins the Party, Posts $50/ton Sheet Price Hike

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).

US Steel 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

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.