Steel Mills
California Steel Opens July Order Book @ +$80
Written by John Packard
April 19, 2016
California Steel Industries (CSI) opened their July flat rolled order book this week. The mill moved prices up by $80 per ton compared to the previous month. We are investigating exactly what that means to buyers. We understand that the mill is on a strict allocation to their regular customers. We expect the mill to be sold out within one to two days.
Here is what the mill had to say to their customers:
The purpose of this letter is to inform you we are opening the July Flat Rolled order book. With the current strong demand in the market, we expect to reach our planned production capacity for July very quickly. California Steel Industries is increasing transaction prices, effective immediately, by a minimum of the following:
Hot Rolled $80.00/ton
P&O $80.00/ton
Cold Rolled $80.00/ton
Galvanized $80.00/ton
California Steel Industries reserves the right to review any previously quoted requirements that have not been placed, acknowledged or confirmed in writing. Additionally, customers are reminded that prices are subject to change at any time unless a firm price has been previously quoted and confirmed.
The letter, which was emailed to their customers, was signed by Ricardo Bernardes, Executive Vice President, Commercial of California Steel.
John Packard
Read more from John PackardLatest in Steel Mills
Nippon’s Mori meets with Pa. Gov. Shapiro: Report
Nori, a top Nippon Steel official, met on Tuesday with Pennsylvania's governor, to discuss its proposed acquisition of U.S. Steel.
Nippon won’t import slabs to US if U.S. Steel deal goes through
Nippon Steel has affirmed that if its $14.9-billion bid for U.S. Steel proves successful, the Japanese steelmaker will not import overseas-produced slabs to the US.
AISI: Raw steel production falls to 5-week low
Domestic raw steel mill production slipped to a five-week low last week, according to the latest figures released by the American Iron and Steel Institute (AISI). Weekly production is now at the third-lowest level recorded this year.
Nucor maintains HR price at $750/ton
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil was unchanged week on week (w/w) at $750 per short ton (st) on Monday, Nov. 18.
Mexican court orders sale of officially bankrupt AHMSA
After failing to reach agreements with its creditors, Altos Hornos de México (AHMSA) has been formally declared bankrupt by a Mexican bankruptcy court.