Flat-roll producers set $30-a-ton hike for Feb.
Dec 13, 2007 | 02:53 PM
| Scott Robertson
Producers of carbon flat-rolled steel products are seeking price increases of $30 a ton for February shipments, their second attempt at a 2008 price hike.
Several mills—including AK Steel Corp., West Chester, Ohio; ArcelorMittal Flat Products USA, Chicago; Nucor Corp., Charlotte, N.C.; and U.S. Steel Corp., Pittsburgh—informed buyers this week either by letter or telephone that they intend to boost prices on hot-rolled, cold-rolled and coated sheet products by $30 a ton effective Feb. 1, buyer sources said.
That's on top of plans announced in October for price increases of $30 to $40 a ton effective with Jan. 1 shipments, with producers citing increased demand for steel as well as the need to recoup margins lost to higher costs for such raw materials as coal, iron ore and scrap. Those same factors are at play for the February increase, although buyer sources say demand remains stagnant, not strong.
"Anyone who tells you this increase is based on demand is lying," one service center source said. "It's a combination of a few things, but demand is not one of them."....
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.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.