Trade Cases

ArcelorMittal Adds to Crowd of Mills up $100/ton on Sheet

February 21, 2023

ArcelorMittal has followed three major domestic mills in increasing sheet prices by at least $100 per ton ($5 per cwt).

Luxembourg-based ArcelorMittal, one of the world’s largest steelmakers, also said it was targeting a minimum base price of $1,000 per ton for hot-rolled coil (HRC) effective immediately.

arrow up That echoes new HRC base prices announced earlier Tuesday by Nucor and Cleveland-Cliffs.

US Steel also announced a $100-per-ton increase but did not specify a target base price for hot-rolled coil.

“The increase is applicable to all new spot orders and all recent quotations that have not yet been accepted,” the steelmaker said in a letter addressed to its commercial team on Tuesday, Feb. 21.

ArcelorMittal, in addition, said it had opened its April order book for hot-rolled products and that April orders for cold-rolled and coated products must be received no later than March 1.

The company’s presence in the US comes primarily via AM/NS Calvert, a sheet mill in Alabama. The facility is a joint venture with Japan’s Nippon Steel.

By Michael Cowden, michael@steelmarketupdate.com

Michael Cowden

Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.