Steel Mills
CSI Closes September Flat Rolled Order Book
Written by Michael Cowden
July 1, 2021
You’ll have to wait until the fourth quarter if you’re looking for flat rolled from California Steel Industries (CSI).
The West Coast slab converter announced that it had closed its September order book on Thursday, July 1 – just a week after it opened the month and increased prices by $200 per ton ($10 per cwt).
“We will contact you when we open the flat rolled order book for October,” the company said in a letter to customers.
CSI, 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.
The company’s closure of its September order book dovetails with SMU channel checks indicating that demand remains firm despite prices continuing to set new highs week-over-week following a nearly year-long upcycle.
Case in point: SMU’s benchmark hot-rolled coil price is at $1,770 per ton ($88.50 per cwt), up 9.3% from $1,620 per ton a month ago and more than triple $480 per ton a year ago.
Hot-rolled coil lead times – an advance indicator of which way prices are headed – average 10.5 weeks, little changed from 10.36 weeks a month ago but nearly triple the 3.58 weeks recorded this time last year, according to SMU’s interactive pricing tool.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Mills
Toyota Tsusho America to acquire Radius Recycling for $1.34 billion
The companies said Thursday that Radius shareholders will receive $30 per share in cash upon the deal’s closing, which is expected in the second half of this year.
Algoma resumes steel shipments to US, sees opportunity in tariffs
Algoma Steel has resumed shipments to the US, effective Friday, March 14. And the Canadian steelmaker sees a potential opportunity with the current tariff situation.
Algoma posts narrower Q4 loss, braces for tariff impact as US shipments pause
Algoma Steel's net loss narrowed in the fourth quarter vs. a year earlier amid economic uncertainty and tariff-related issues.
Evraz NA refutes report it falsified tests on plate for US military
Employees at Evraz North America, a subsidiary of Russia's Evraz plc, reportedly falsified quality control test results on armored plate for military vehicles. Evraz NA denies the claims.
Pacific Steel breaks ground on California rebar mill
Pacific Steel Group has broken ground on its Mojave Micro Mill in Southern California.