Severstal NA sets new minimum sheet price

Dec 14, 2011 | 02:22 PM | Anne Riley

Tags  Steelbenchmarker, steel, flat-rolled steel, Severstal, Anne Riley

NEW YORK — Steady order entry from a number of key end-use sectors has led Severstal North America Inc. to boost its minimum price for all new orders effective immediately, according to a letter sent to customers Wednesday.

"Steel demand in December continues to improve and we expect even further improvement in 2012. Most steel markets, led by automotive and energy, continue to develop gradually but consistently and there are signs that construction has reached bottom and begun to turn," Tom Marchak, vice president of commercial, wrote in the letter.

As a result, the Dearborn, Mich.-based steelmaker has set a new minimum hot-rolled band price of $37 per hundredweight ($740 per ton) and a new minimum cold-rolled and hot-dipped galvanized price of $42.50 per cwt ($850 per ton).....

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