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
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.