Severstal offers firm price options, hikes tags

Jun 17, 2013 | 04:17 PM | Catherine Ngai

Tags  steel prices, Severstal North America, Dearborn mill, Columbus mill, sheet, firm pricing option, Catherine Ngai

NEW YORK — Severstal North America Inc. has introduced new firm pricing options for quarterly and six-month spot buying of sheet products.

The Dearborn, Mich.-based steelmaker said in a June 14 letter to customers it was instituting a firm pricing option extra of $1 per hundredweight for quarterly buying and $2 per cwt for six-month buying. The quarterly and six-month options don’t include published extras.

"These options reflect producer price risk and are valid only when the current published base prices are used," Thomas M. Marchak, Severstal’s vice president of commercial, said in the letter. "Severstal is also reviewing various other pricing options, including raw material based or indexed to the change in published price indices." ....

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