More domestic steel mills back flat-rolled hike

Jan 23, 2013 | 06:05 PM | Catherine Ngai

Tags  ArcelorMittal, steel price, price increase, AK Steel, U.S. Steel, catherine ngai

NEW YORK — A number of major steelmakers have thrown their weight behind a carbon flat-rolled price increase as they look to reverse weeks of softening tags.

ArcelorMittal USA Inc. said it will raise minimum base prices for all carbon flat-rolled steel products effective immediately as it looks to restore "a fair value for (its) products and services," according to a letter sent to customers.

The Chicago-based steelmaker said its new base price for hot-rolled steel is $650 per ton ($32.50 per hundredweight), its new cold-rolled price is $750 per ton ($37.50 per cwt) and its new hot-dipped galvanized price is $760 per ton ($38 per cwt). The new minimum prices are in effect until Feb. 6, ArcelorMittal said in the letter.....

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