NEW YORK ArcelorMittal
USA Inc. and AK Steel Corp. have followed Nucor Corp.s
leading move to increase published prices for flat-rolled
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
amm.com, Oct. 16) and November (
amm.com, Nov. 6) helped prices tick up, but that
momentum has since started to wane.
"Weve 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 its 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
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).