Flat-roll prices already moving to higher ground
Dec 11, 2009 | 10:56 AM
| Scott Robertson
North American steelmakers who authored carbon flat-rolled steel price increases for January and February shipment dates are seeing early fruits of their efforts in the form of rapidly rising tags.
Buyers who less than a week ago were able to secure hot-rolled sheet for as little as $500 per ton ($25 per hundredweight) now say they've already been hit with prices ranging from $540 to $550 per ton ($27 to $27.50 per cwt) for January orders.
"I can't get anything below $27 (per cwt) and I have a lot of tons out there," one Midwest service center source said. "I've heard from everyone—U.S. Steel (Corp.), Nucor (Corp.), SDI (Steel Dynamics Inc.)—and they are all at $27.50 or more on hot-rolled. If you push a little you can get $27, but that's about it. Algoma (Essar Steel Algoma Inc.) is at $27.75 (per cwt, or $555 per ton) and they won't negotiate off....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here