Second round of flat-rolled steel hikes begins

Jun 13, 2013 | 02:49 PM | Catherine Ngai

Tags  steel sheet, steel prices, ArcelorMittal, AK Steel, hot-rolled sheet, cold-rolled sheet, flat-rolled steel, galvanized sheet Catherine Ngai

NEW YORK — At least two major domestic steel mills have increased published sheet prices in a move that market players expect will gain industrywide support.

ArcelorMittal USA LLC, Chicago, on June 13 announced new minimum base prices of $630 per ton ($31.50 per hundredweight) for hot-rolled coil and $730 per ton ($36.50 per cwt) for cold-rolled and galvanized product effective immediately, according to a letter to customers. The company didn’t list its previous price in the letter, but AMM’s current spot price for hot-rolled sheet is $595 per ton ($29.75 per cwt) vs. reported lows of around $550 per ton ($27.50 per cwt) in May.....

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