Trade Cases
ArcelorMittal Adds to Crowd of Mills up $100/ton on Sheet
Written by Michael Cowden
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.
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
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