Service Centers
ArcelorMittal Aims for $700/ton HR, $950/ton CR and Coated
Written by Michael Cowden
December 2, 2022
ArcelorMittal US has announced new, higher sheet prices with the opening of its 2023 order books.
The company said it has also rolled out new grade extras, which will take effect on Jan 1., to reflect higher alloy costs.
The price increases effectively apply to AM/NS Calvert, the Alabama mill jointly owned by Luxembourg-based ArcelorMittal and Japan’s Nippon Steel.
Recall that ArcelorMittal sold its northern mills to Cleveland-Cliffs in 2020.
The steelmaker’s new target price for hot-rolled coil is $700 per ton ($35 per cwt). Its new target price for cold-rolled and coated products is $950 per ton ($47.50 per cwt).
The higher prices were effective immediately on Tuesday, Nov. 29, according to a notice circulated among ArcelorMittal’s commercial team.
The price hikes were announced with the opening of the mill’s hot-rolled order book for January and with the opening of order books for tandem products for both January and February.
“We reserve the right to modify any outstanding quotations,” the company said in the letter.
The last week has seen a host of mills in the US and Canada announce price increases of $60 per ton ($80 per ton CAD). The AM/NS Calvert announcement was slightly different in that it specified new base prices rather than the amount of the increase.
Steel Market Update’s hot-rolled coil price stands at $625 per ton, up $10 per ton from our prior assessment but down $60 per ton from $685 per ton a month ago.
AM/NS Calvert, roughly 35 miles north of Mobile, Ala., has an annual capacity of 5.3 million tons, according to its website. It serves a wide array of end markets – including automotive, construction, pipe and tube, and appliance/HVAC.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Service Centers
Worthington Steel and Samuel to close Cleveland coil processing JV
Worthington Steel confirmed it is closing the Worthington Samuel Coil Processing (WSCP) facility in Cleveland. WSCP is a joint venture between Worthington Steel and Oakville, Ontario-based Samuel, Son & Co.
Galvanized buyers brace for market shifts amid rising tariffs
One buyer summed up the prevailing sentiment: “Everything is pointing up — pricing, sentiment, order activity. But the real test will come once the immediate reactionary buying subsides. Will there be enough true demand to support these levels through mid-year? That’s the big unknown.”
Olympic Steel sees increased line pipe jobs while lead times jump on Trump tariffs threats
Olympic Steel has seen jobs for line pipe jump in recent weeks as the Trump administration has talked up fossil fuel production, which is good news for hot-rolled coil producers. Meanwhile, tariff talk has lengthened lead times, Olympic executives said.
Ryerson swung to loss in ’24, but saw fortunes improve over the last month
Ryerson swung to a loss in the fourth quarter, but has seen a turnaround in the last 30 days.
Despite policy uncertainty, Reliance upbeat on ’25
Reliance noted that it is about 95% domestically sourced.