Steel Products

ArcelorMittal Announces Minimums for Steel Sheet

February 20, 2019

ArcelorMittal announced minimum prices for its flat rolled products today in response to improved demand.

“Over the past couple of weeks, we have experienced a significant increase in order entry for sheet products,” the mill said in a letter to customers. Effective immediately, the minimum price for new orders of hot rolled sheet from ArcelorMittal USA and AM/NS Calvert is set at $730 per ton, while cold rolled and hot-dipped galvanized minimums are $860 per ton. ArcelorMittal’s last price change was a $40 per ton increase on Oct. 11, 2018.

ArcelorMittal’s latest announcement comes on the same day that Nucor’s Sheet Mill Group raised flat rolled prices by $40 per ton ($2.00/cwt)—the second $40 increase by Nucor in less than 30 days.

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Steel Market Update data shows that current spot prices for hot rolled are averaging $680 per ton, with mill offers generally reported in the $680-$700 per ton range. The announcements by the two mills lend support to the view that steel prices may finally have found a bottom. The price of hot rolled steel has been on the decline since last summer, dropping by around 25 percent.