More US steel mills join $40/T sheet increase

Jul 05, 2012 | 04:07 PM | Chris Prentice

Tags  steel, flat-rolled, hot-rolled, Severstal North America, NLMK USA, U.S. Steel, ArcelorMittal, Essar Steel Algoma Steel Dynamics

NEW YORK — More North American sheet mills have joined this week’s round of price increases in an effort to halt the recent slide.

Pittsburgh-based U.S. Steel Corp. said Tuesday that it was raising base prices for all new flat-rolled spot orders by a minimum of $40 per net ton effective immediately. "This increase is applicable to all open quotes and/or negotiations where an agreement is yet to have been concluded, and pricing extras, as published on our corporate website, will continue to be fully applied," Robert Y. Kopf III, general manager of North American flat-rolled marketing for U.S. Steel, wrote in a letter to his company’s sales managers, citing "changing market conditions" as the impetus behind the move.....

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