Steel Mills
California Steel and USS/Posco Raise Flat Rolled Spot Pricing
Written by John Packard
December 15, 2015
USS/Posco (UPI) and California Steel both sent out letters over the past few working days advising their customers of their intention to raise prices on spot flat rolled orders.
On December 11, 2015 USS/Posco sent out a letter announcing $40 per ton.
On Monday, December 14, 2015 California Steel Industries (CSI) opened their February order book and at the same time they announced a $40 per ton ($2.00/cwt) increase on all of their flat rolled products.
According to one of our West Coast sources, the California Steel price increase announcement letter came with comments from sales telling their customers that “for you” the price increase was only going to be up $20 per ton (not the full $40).
West Coast foreign hot rolled offers were reported to be $380 EDDP out of Korea and Japan. Cold rolled offers are reported to range from $435 base up to the high $440’s. The countries mentioned the most are Thailand, Korea and Vietnam.
Galvanized prices are harder to gauge as they are normally quoted “effective” (freight, duties and all extras already incorporated into the number). One of our sources on the West Coast advised us that they are seeing GI effective numbers in the $27.00/cwt-$32.00/cwt range with Brazil being the most aggressive.
John Packard
Read more from John PackardLatest in Steel Mills
POSCO inks MoU with Hyundai on Louisiana EAF mill
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.
CRU: Tata Steel looks to shed 1,600 jobs in the Netherlands
The company said, “The challenging demand conditions in Europe driven by geopolitical developments, trade and supply chain disruptions and escalating energy costs have affected the operating costs and financial performance."
Reports: Federal funding for Cliffs’ project could be slashed
Elon Musk's DOGE is determining which Department of Energy grants to advance and which ones to terminate, according to several media outlets
Trump still against selling USS to Japanese firm: Report
Despite ordering a new review of Nippon Steel’s bid for U.S. Steel, President Trump said he is still against selling USS to a Japanese company, according to media reports.
Algoma looks to sell more steel in Canada in wake of Trump’s tariffs
The Canadian steelmaker said its absorbing higher tariffs as it moves forward.