NEW YORK Severstal North America Inc. and AK Steel Corp. have separately increased minimum base prices on flat-rolled steel sheet products.
Dearborn, Mich.-based Severstal set hot-rolled coil prices at $35 per hundredweight ($700 per ton), while cold-rolled and hot-dipped galvanized coil were set at $40.50 per cwt ($810 per ton) effective 8 a.m. Central time Nov. 11, it said in a Nov. 7 letter to customers.
The increase was due to raw material input cost pressures, capacity restrictions and a better order book, the company said, adding that it remains "watchful of market conditions and may announce further price modifications in the near future."
AK Steel Corp. increased its spot market base prices for all carbon flat-rolled products by $30 per ton effective immediately, the West Chester, Ohio-based company said.
The moves comes on the heels of market speculation that steelmakers were planning to launch a new round of increases (amm.com, Nov. 6).
USS-Posco Industries Inc., Pittsburg, Calif., and California Steel Industries Inc., Fontana, Calif., raised sheet prices by $40 to $60 per ton ($2 to $3 per cwt) effective Nov. 4 (amm.com, Nov. 4).