Steel Prices
AM/NS Calvert, Stelco Follow Major Sheet Mills Higher
Written by Laura Miller
October 23, 2023
ArcelorMittal and Stelco joined last week’s move by domestic mills to push sheet prices higher.
On Thursday, Oct. 19, Nucor led the pack, announcing it would seek a minimum of $800 per ton ($40 per cwt) for hot-rolled coil. Cleveland-Cliffs followed, announcing the same target base price for HRC. U.S. Steel said it would increase spot base prices by at least $100 per ton.
Also on Oct. 19, ArcelorMittal set minimum base prices for flat-rolled products in a letter to its commercial team. Base prices from its AM/NS Calvert mill in Alabama were set at $800 per ton for hot rolled and $1,050 per ton for cold rolled and coated products, effective immediately.
“The hot rolled order book is now open for December with limited availability,” the letter stated. “Tandem products are on an inquiry basis.”
Canadian steelmaker Stelco also said it would immediately be increasing base prices for all products by a minimum of C$135 per ton (US$99 per ton) in an Oct. 19 letter to customers.
Laura Miller
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