Steel Products
CSI Raises Steel Price by $40 Per Ton
Written by Tim Triplett
July 12, 2019
California Steel Industries is the latest mill to raise flat rolled steel prices. In a letter to customers on Wednesday, the Fontana, Calif.-based steelmaker said transaction prices for hot rolled, P&O, cold rolled and galvanized steels would increase by $40 per ton ($2/cwt) effective immediately.
CSI’s move follows on similar announcements this week from Nucor, ArcelorMittal, USS-POSCO Industries, U.S. Steel and NLMK USA. The nation’s leading steel producers have announced two price increases in the past two weeks totaling $80 per ton in the hope of turning around a year-long decline in steel prices. The benchmark price of hot rolled steel, currently around $535 per ton, is down 40 percent from its $910 peak this time last year.
CSI is an opponent of the Trump administration’s Section 232 tariffs on steel imports. As a re-roller, CSI does not produce its own steel, but rather relies on semi-finished steel purchased from other countries. With an adequate supply of slabs, CSI has the capacity to produce 2 million tons per year of flat-rolled sheet and ERW pipe.
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.