Steel Mills

ArcelorMittal Up $50/ton on Sheet, Seeks $950/ton HRC

Written by Michael Cowden

ArcelorMittal has followed U.S. Steel and Nucor in an attempt to increase sheet prices by $50 per ton ($2.50 per cwt).

The Luxembourg-based steelmaker also specified new minimum base prices: $950 per ton for hot-rolled coil (HRC) and $1,150 per ton for cold-rolled and coated products.

ArcelorMittalArcelorMittal made the price hike announcement with the opening of its hot rolled book for July. The company also said it was limiting tandem products to existing contracts for August bookings.

“The increase is applicable to all new spot orders and all recent quotations that have not yet been accepted by AMUS—AM/NS Calvert,” the company said in a letter to sales staff on Friday, June 16.

The move one-upped Charlotte, N.C.-based Nucor, which had earlier on the same day announced a new minimum base price of $900 per ton for HRC. U.S. Steel did not specify minimum pricing in its announcement.

ArcelorMittal is one of the largest steelmakers in the world. Its presence in the US comes primarily via AM/NS Calvert, a joint-venture sheet mill in Alabama with Japan’s Nippon Steel.

Some market participants speculated that other mills might announce increases on Tuesday, following the Juneteenth holiday on Monday.

By Michael Cowden,

Michael Cowden

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