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ArcelorMittal, AK follow flat-roll sheet price hike

Keywords: Tags  flat-rolled steel, hot-rolled sheet, cold-rolled sheet, coated sheet, galvanized steel, electrogalvanized, aluminized, galvalume steel prices


NEW YORK — ArcelorMittal USA Inc. and AK Steel Corp. have followed Nucor Corp.’s leading move to increase published prices for flat-rolled products.

Chicago-based ArcelorMittal USA has raised prices for hot-rolled, cold-rolled and coated sheet products by $20 per ton, effective immediately with all new inquiries and orders, sales representatives said in notices to customers Friday.

Separately, West Chester, Ohio-based AK Steel Corp. announced Friday afternoon that it had increased current spot market base prices for all carbon flat-rolled steel products by $30 per ton, also effective immediately with new orders.

Charlotte, N.C.-based Nucor a day earlier said it would increase base prices for all new orders of hot-rolled, cold-rolled and galvanized sheet products by $20 per ton ( amm.com, Dec. 6).

"We think this is a defensive move to keep the price from sliding," one service center source in the Midwest told AMM.

Sources previously said that mills were likely to boost their published prices for a third time during the fourth quarter. Two earlier rounds in mid-October ( amm.com, Oct. 16) and November ( amm.com, Nov. 6) helped prices tick up, but that momentum has since started to wane.

"We’ve seen the decrease this week," one manufacturer said.

Hot-rolled sheet tags slid this past week to $32 per hundredweight ($640 per ton) from about $32.25 per cwt ($645 per ton) previously.

"I think it’s a move to firm up the last increase, especially since scrap went down on the East Coast and stayed level in the Midwest," a second distributor said.

Ferrous scrap prices settled flat in the Midwest for December ( amm.com, Dec. 5), and container scrap export tags remain under pressure on the East Coast ( amm.com, Dec. 7).


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