Mills seen battling odds to hike flat-rolled tags
May 23, 2013 | 04:55 PM
| Catherine Ngai
NEW YORK Efforts by at least four major mills to boost flat-rolled steel prices could be foiled by a number of downward pressures, including sliding raw material costs, oversupplied markets and lackluster demand.
U.S. Steel Corp., Pittsburgh, told customers May 22 it would immediately raise spot prices for all flat-rolled steel products by a minimum of $50 per ton (amm.com, May 22).
A day later, ArcelorMittal USA LLC, Chicago, raised minimum base prices to $610 per ton ($30.50 per hundredweight) for hot-rolled coil and $710 per ton ($35.50 per cwt) for cold-rolled and galvanized product, it said in a May 23 letter to customers.
On May 23, Dearborn, Mich.-based Severstal North America Inc. separately set new minimum base prices for its sheet products as well. According to an e-mail to customers, effective with all new inquiries, new base prices are $610 per ton for hot-rolled sheet and $710 per ton for cold-rolled and galvanized products, Severstal said.....
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