Steel Prices
AM/NS Calvert seeks $800/ton HR, $1,050/ton CR, and $1000/ton coated
Written by Michael Cowden
February 6, 2025
ArcelorMittal is targeting a minimum base price of $800 per short ton (st) for hot-rolled coil.
The steelmaker is also seeking $1,050/st for cold-rolled product and a $1,000/st base price for coated material, according to a letter to customers dated Wednesday.
“The increase is applicable to all new spot orders and all recent quotations that have not yet been accepted by AMUS—AM/NS Calvert. We reserve the right to modify any outstanding quotations,” the company said in the letter.
Recall that AM/NS Calvert is a joint-venture sheet mill between Luxembourg-based ArcelorMittal and Japan’s Nippon Steel. It is located in Calvert, Ala.
The company in addition said in the letter that it was accepting March contract orders for HR and April orders for tandem products.
ArcelorMittal also announced a hefty price hike at ArcelorMittal Dofasco, its sheet mill in Hamilton, Ontario.
The target prices at Calvert are well above where SMU assessed spot prices earlier this week. We’re at $725/st on average for HR, $950/st on average for CR, and $910 on average for galvanized base. We’ll next update prices on Tuesday.
Michael Cowden
Read more from Michael CowdenLatest in Steel Prices
SMU price ranges: Market stabilizes as summer slowdown begins
Most sheet and plate prices edged lower again this week, albeit at a slower pace compared to the movements seen over the last seven weeks. Buyers remain cautious and hesitant to hold onto much inventory, citing lingering demand concerns, ongoing tariff uncertainty, and a potentially weakening scrap market in June.
CRU: Pig iron prices stable to low in key markets amid soft demand
Market participants in both the US and Europe noted that most buyers are patiently waiting for prices to reduce as they have enough inventory at hand.
SMU price ranges: Indices drop across the board
All of SMU’s sheet and plate steel price indices declined this week, easing by $30-40 per short ton (st) on average since early May. Prices continue to slide lower as buyers remain on the sidelines, wary of holding much excess inventory and expecting further declines.
HRC vs. prime spread narrows further in May
The price spread between hot-rolled coil (HRC) and prime scrap narrowed again in May, according to SMU’s most recent pricing data.
Miller on Pig Iron: Buyers eye lower prices
Since the US ferrous scrap settlements for May have been finalized, steelmakers are turning their attention to continued pig iron flows with the wind behind their backs.