California Steel First to Announce February Price Increase

Base prices were reported to Steel Market Update by a California Steel customer as being $36.00/cwt ($720 per ton) on hot rolled, $41.00/cwt on cold rolled and as high as $44.00/cwt on galvanized.

One of California Steel’s service center customers doubted the increases would stick based on both their ability to negotiate better pricing after the last price announcement (January production) coupled with the spread between foreign prices and California Steel’s prices with the new increases in them. They put foreign hot rolled base prices at just under $32.00/cwt and galvanized base prices under $38.00/cwt.

CSI customers east of the Rockies reported a wide variety of base prices and they are carefully watching as to exactly where transaction prices will be when all is said and done.