AM Dofasco and Stelco push sheet prices up, Atlas Tube follows

ArcelorMittal Dofasco and Stelco joined recent moves by US mills to push sheet prices higher.

AM Dofasco is increasing spot sheet prices by a minimum of CA$100 per short ton (US$71/st).

The Hamilton, Ontario-based flat-rolled steelmaker told customers on Nov. 5, the increase is effective immediately for all new orders.

Fellow Canadian steelmaker Stelco followed that notice with an increase of its own on Thursday, Nov. 6. The integrated steelmaker said it was also increasing all non-contract transaction prices by a minimum of CA$100/st.

The move was effective immediately and applies to all products, the letter said.

Sheet pricing moves

Canadian mills have joined other domestic steelmakers, also hoping to push prices higher, or at least set a new floor.

NLMK USA first notified customers of their price hikes on hot-rolled and cold-rolled coil back on Oct. 24. Nucor has since increased its weekly CSP on Oct. 27 and Nov. 3.

While sheet prices have indeed firmed up in response to mill hikes, early on, the trend appears to have stopped erosion and steep discounting, lifting in earnest only the bottom end of the market.

SMU’s weekly market check showed current HR spot prices at $800-$850/st, with an average of $825/st as of Tuesday, up $5/st vs. the previous week.

You can check out SMU’s Steel Mill Price Announcement Calendar to follow announced pricing moves.

Atlas Tube joins in

Atlas Tube got in on the Canadian pricing hike carousel and said it aims to increase prices for mechanical tubing, hollow structural sections (HSS), and piling products in Canada by at least CA$140/st.

The Chicago-based steel pipe and tube producer said the increase was effective immediately for all new orders, according to a letter to customers dated Thursday.

The company noted that the increase applied to all unconfirmed quotes and contracts. It said orders currently on its books would be price-protected for shipment through Dec. 5.

Atlas Tube, the largest HSS producer in North America, is a division of Zekelman Industries.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.