Steel Products Prices North America
CSI, UPI Announce $40 Price Hike on Flat-Rolled Steel
Written by Tim Triplett
January 22, 2019
California Steel Industries (CSI) and USS-POSCO Industries (UPI) announced price increases of $40 per ton ($2.00/cwt) on Monday, hoping to stem the slide in flat-rolled steel prices that began last summer. The announcements do not include plate.
In its Jan. 21 letter to customers, CSI stated that it is opening its order book for flat-rolled orders placed for shipment in March. Additionally, the West Coast re-roller said it was increasing transaction prices, effective immediately, by a minimum of $40 per ton on hot rolled, P&O, cold rolled and galvanized products. All pricing is subject to slab availability and mill capacity.
Likewise, UPI notified its sheet customers that it is raising based prices for all hot rolled P&O, cold rolled and galvanized products by $40 per ton effective immediately on all unconfirmed orders. Published price book extras continue to apply.
The last time these mills announced a price change was back on Oct. 11, when they also sought to raise flat rolled by $40 per ton. Hot rolled steel prices continued to weaken in the fourth quarter and into the new year, declining by about $120 to last week’s price around $685 per ton FOB Mill East of the Rockies (prices on the West Coast may differ), according to Steel Market Update data.
Given the steep declines in steel prices that began last August, the market has been expecting the mills to take some action, although some analysts question the timing. With mill lead times short, scrap prices down in January and JSW’s Mingo Junction restart beginning to add supply to the market, the likelihood of the mills collecting this first price hike of 2019 is uncertain.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America
Nucor lifts HR coil to $820/ton
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.
Nucor pushes HR spot price to $790/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $790 per short ton (st) on Monday, Feb. 10 – a $15/st bump vs. last week. The Charlotte, N.C.-based company has raised its weekly CSP by $40/st over the past three weeks after maintaining tags at $750/st since Nov. 12, according to SMU’s […]
ArcelorMittal Dofasco increases spot sheet prices
ArcelorMittal Dofasco is raising spot sheet prices by CA$100 per ton (US$70/ton). The Hamilton, Ontario-based flat rolled steelmaker told customers the increase is effective immediately for all new orders. It did not specify to what level this brings its base prices but noted its right to re-quote previous but unconfirmed orders. “We will continue to […]
Nucor raises HR spot price to $775/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $775 per short ton (st) on Monday, Feb. 3. The $15/st week-on-week (w/w) rise marks the first back-to-back increases in the steelmaker’s weekly CSP since last August, according to SMU’s mill price announcement calendar. Nucor’s joint-venture subsidiary California Steel Industries (CSI) is also up […]
Nucor raises HR spot price to $760/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $760 per short ton (st) on Monday, Jan. 21. The $10/st week-on-week (w/w) rise marks the first increase in the CSP since Nov. 12. According to SMU’s mill price announcement calendar, the Charlotte, N.C.-based steelmaker held the weekly price at $750/st for 11 […]