Product
December 11, 2017
USS-POSCO Joins Rivals Up $30 Per Ton
Written by Tim Triplett
USS-POSCO is the latest flat roll mill to announce a price increase. In a letter to customers today, the mill said that, effective immediately, it is raising base prices on all sheet products by a minimum of the following: Hot Rolled P&O, $30 per net ton; Cold Rolled, $30 per net ton; and Galvanized, $30.00 per net ton. Published extras will continue to apply.
The scale and the terms of POSCO’s announcement match the $30 price hikes by the other major mills last week, including Nucor, ArcelorMittal, California Steel Industries, U.S. Steel and NLMK.
In its communication with customers, ArcelorMittal referenced spot transaction base price minimums of $680 per ton on hot rolled ($34.00/cwt) and $860 per ton on cold rolled and coated steels ($43.00/cwt), before any extras are added, setting the mark for the current market.
