Steel Products Prices North America
U.S. Steel, Wheeling-Nippon Reduce Coating Extras
Written by Michael Cowden
June 14, 2023
U.S. Steel and Wheeling-Nippon Steel have joined other domestic mills in reducing coating extras.
Wheeling-Nippon said the new, lower extras would be effective with new orders quoted for the week ending July 22.
The new extras apply to aluminized, galvanized, and galvanneal, the company said in a letter to customers dated Wednesday, June 14.
One example of the new extras: Wheeling-Nippon had charged $4.90 per cwt for a 0.0849-.0600 G90. The same item is now $4.30 per cwt – a roughly 12% reduction.
U.S. Steel’s new coating extras are effective July 30, according to an updated price book. The company had charged $4.85 per cwt for an 0.085-.060 G90. The same item, under the new schedule, is $3.90 – a nearly 20% drop.
At least two other domestic mills – Steel Dynamics Inc. (SDI) and NLMK USA – have also announced lower coating extras.
We will update our website to reflect the revised extras. Announcements of lower coating extras come after zinc prices dropped to their lowest point since July 2020.
By Michael Cowden, michael@steelmarketupdate.com
Michael Cowden
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