ArcelorMittal looks to set floor under sheet tags

Jun 06, 2014 | 04:22 PM | Michael Cowden

Tags  ArcelorMittal, order books, hot-rolled, cold-rolled, hot-dipped galvanized, blast furnace, outage, Midwest Great Lakes

CHICAGO — ArcelorMittal USA LLC has opened its August order books and is looking to shore up officially published prices, according to market sources and a company letter.

The Chicago-based subsidiary of Luxembourg’s ArcelorMittal SA pegged minimum base prices in August at $34 per hundredweight ($680 per ton) for hot-rolled coil and $40.50 per cwt ($810 per ton) for cold-rolled and hot-dipped galvanized, according to a June 5 letter to customers.

The move comes after the company closed orders for July at its northern facilities because of long lead times, the letter said. Market sources confirmed that lead times at the company are into mid-August.....

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