Steel Prices

AM/NS Calvert, Stelco Follow Major Sheet Mills Higher

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

Laura Miller is a reporter and editor for Steel Market Update. Since 2007, she has held various editorial and marketing positions with steel industry publications, associations, and mills. In 2021, after a five-year hiatus working across other industries, she returned to steel trade journalism, joining SMU in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.