Severstal pushes steel sheet prices higher
Jun 27, 2013 | 04:16 PM
| Catherine Ngai
NEW YORK Severstal North America Inc. has raised minimum base prices for its flat-rolled steel products effective immediately, joining other North American mills in an attempt to hike sheet prices for the third time in five weeks.
The Dearborn, Mich.-based steelmaker has increased its hot-rolled base price to $32.75 per hundredweight ($655 per ton) and cold-rolled coil and hot-dipped galvanized to $37.75 per cwt ($755 per ton), the company said in a June 27 letter to customers. Both prices are up $1.25 per cwt ($25 per ton) from the companys last pricing announcement in mid-June (amm.com, June 17).
In addition to higher spot pricing, Severstal NA also set higher quarterly and six-month buying prices, part of its firm pricing option introduced earlier this month. Under the quarterly option, which covers the July-to-September period, hot-rolled coil will be $33.75 per cwt ($675 per ton) while cold-rolled and galvanized will be $38.75 per cwt ($775 per ton). Six-month pricing from July to December is $2 per cwt higher than the base price for spot material. ....
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