Steel Products
USS-POSCO Joins Rivals Up $30 Per Ton
Written by Tim Triplett
December 11, 2017
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.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products
September energy market update
In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels through September. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
U.S. Steel to halt slab conversion at Granite City Works
U.S. Steel said it plans to reduce slab consumption at its Granite City Works near St. Louis, a company spokesperson said on Monday. The Pittsburgh-based steelmaker will shift the production and processing of steel slabs to its Mon Valley Works near Pittsburgh and its Gary Works near Chicago. Citing a United Steelworkers (USW) union memo, […]
SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.
HR Futures: Market finds footing on supply-side mechanics
As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.