Mills Raise Flat Rolled Steel Prices
U.S. Steel has been informing their customers of a price increase on all flat-rolled products. The increase is $40 per ton ($2.00/cwt) over their existing spot prices.
This puts the Hot Roll spot base at $55.00/cwt ($1,100 per ton), Cold Rolled at $60.00/cwt ($1,200 per ton), Galvanized at $61.00/cwt base ($1,220 per ton) and Galvalume at $61.50/cwt base ($1,230 per ton). My understanding is the prices are effective September 1, 2008.
Some have suggested U.S. Steel may be “posturing” to fill their August order book. However,some U.S. Steel customers are concerned requests for more tons during August resulted in “no availability” answers.
ArcelorMittal responded later in the day and starting informing their customers they would match the U.S. Steel increase of $40 per ton ($2.00/cwt) on all flat rolled products. However, ArcelorMittal is making the increase on hot rolled coil effective with any new orders for August. Cold rolled and Coated (Galvanized, Galvalume) would become effective on September 1st.
Information courtesy SteelMarketUpdate news.