Steel Mills
CSI Opens October, Raises Prices and Closes in a Week
Written by Michael Cowden
July 27, 2021
California Steel Industries (CSI) has closed its flat-rolled steel order book for October just a week after opening it.
“We want to thank you for your continued support. … We will contact you when we open the flat rolled order book for future orders,” the company said in letters to customers.
The West Coast slab converter opened its October books on Monday, July 19, and closed them on Monday, July 26, according to the letters.
CSI also opened and closed its September order book after just one week.
The company did not officially announce any price increases when it opened its October books. But market participants said the company quietly raised prices by approximately $80 per ton ($4 per cwt).
That resulted in hot-rolled coil base prices going from approximately $1,860 per ton ($93 per cwt) in September to $1,940 per ton ($97 per ton) in October. The increase also brought cold-rolled coil and galvanized base prices to approximately $2,180 per ton ($109 per cwt), sources said.
CSI is expected to open November books in mid-August and is likely to raise prices then yet again, they said.
The company, approximately 50 miles east of Los Angeles in Fontana, Calif., makes hot-rolled, pickled-and-oiled, cold-rolled and galvanized products as well as welded pipe.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Mills
Nippon’s Mori meets with Pa. Gov. Shapiro: Report
Nori, a top Nippon Steel official, met on Tuesday with Pennsylvania's governor, to discuss its proposed acquisition of U.S. Steel.
Nippon won’t import slabs to US if U.S. Steel deal goes through
Nippon Steel has affirmed that if its $14.9-billion bid for U.S. Steel proves successful, the Japanese steelmaker will not import overseas-produced slabs to the US.
AISI: Raw steel production falls to 5-week low
Domestic raw steel mill production slipped to a five-week low last week, according to the latest figures released by the American Iron and Steel Institute (AISI). Weekly production is now at the third-lowest level recorded this year.
Nucor maintains HR price at $750/ton
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil was unchanged week on week (w/w) at $750 per short ton (st) on Monday, Nov. 18.
Mexican court orders sale of officially bankrupt AHMSA
After failing to reach agreements with its creditors, Altos Hornos de México (AHMSA) has been formally declared bankrupt by a Mexican bankruptcy court.