Mills initiate third round of steel sheet hikes

Jun 26, 2013 | 04:20 PM | Catherine Ngai

Tags  steel prices, ArcelorMittal, Dofasco, Charles Bradford, sheet hikes, catherine ngai

NEW YORK — North American steel mills have kicked off a third round of flat-rolled price hikes as extended lead times, labor and production outages as well as low inventory levels give the market some upward support.

Hamilton, Ontario-based ArcelorMittal Dofasco Inc. has raised base prices on its steel sheet products for all new spot orders by Canadian $20 ($19.10) per net ton effective immediately, citing devaluation of the Canadian dollar, according to an internal memo dated June 25.

Customer sources told AMM that its U.S. counterpart, ArcelorMittal USA LLC, also has been informing customers of higher prices, with its hot-rolled coil now at $32.50 per hundredweight ($650 per ton) and cold-rolled and galvanized product at $37.50 per cwt ($750 per ton), although AMM has not seen an official announcement from the Chicago-based steelmaker.....

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