USS said slating $40/T flat-roll price increase

Oct 16, 2012 | 12:49 PM | Anne Riley

Tags  steel, sheet, flat-rolled, USS, US Steel, Anne Riley

NEW YORK — U.S. Steel Corp. is said to have slated a $40-a-ton price increase as the integrated steelmaker looks to halt the recent pricing slide in the domestic sheet market.

The Pittsburgh-based company has not confirmed the rumored rise, but multiple sources told AMM Tuesday that they’d been contacted by their U.S. Steel sales representatives alerting them to the planned hike, which was widely expected to be announced Tuesday afternoon.

"We received a call this morning from U.S. Steel. They’re typically not the mill who is the first to raise prices. They called to see if we wanted to place orders before the increase," one distributor said, calling the timing of the news unexpected.

"We were all expecting price increases, but in the next two to three weeks and not today," he said. "It’s catching everyone by surprise."....

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