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
CRU: Tata Steel looks to shed 1,600 jobs in the Netherlands
The company said, “The challenging demand conditions in Europe driven by geopolitical developments, trade and supply chain disruptions and escalating energy costs have affected the operating costs and financial performance."
Reports: Federal funding for Cliffs’ project could be slashed
Elon Musk's DOGE is determining which Department of Energy grants to advance and which ones to terminate, according to several media outlets
Trump still against selling USS to Japanese firm: Report
Despite ordering a new review of Nippon Steel’s bid for U.S. Steel, President Trump said he is still against selling USS to a Japanese company, according to media reports.
Algoma looks to sell more steel in Canada in wake of Trump’s tariffs
The Canadian steelmaker said its absorbing higher tariffs as it moves forward.
Ancora abandons plan to take over leadership of USS
Investment firm Ancora Holdings Group has halted its play for U.S. Steel's board, citing Nippon Steel’s proposed bid for USS “gaining momentum.”