NEW YORK Two steelmakers have followed a price increase on flat-rolled steel products.
NLMK USA LLC raised its minimum base prices on flat-rolled steel products effective immediately, it said in a March 18 letter.
The Portage, Ind.-based steelmaker set prices on hot-rolled coil at $33 per hundredweight ($660 per ton), while cold-rolled and coated products were increased to $39.50 per cwt ($790 per ton).
Pittsburgh-based U.S. Steel Corp. increased its minimum base prices on all spot orders by $2 per cwt ($40 per ton), it told customers in a March 18 letter.
The increases follow moves the previous day by Chicago-based ArcelorMittal USA LLC and Dearborn, Mich.-based Severstal North America Inc. (amm.com, March 17).
Other mills are expected to follow, although market participants are mixed over how effective the increase will be.