Trade Cases
ArcelorMittal Adds to Crowd of Mills up $100/ton on Sheet
Written by Michael Cowden
February 21, 2023
ArcelorMittal has followed three major domestic mills in increasing sheet prices by at least $100 per ton ($5 per cwt).
Luxembourg-based ArcelorMittal, one of the world’s largest steelmakers, also said it was targeting a minimum base price of $1,000 per ton for hot-rolled coil (HRC) effective immediately.
That echoes new HRC base prices announced earlier Tuesday by Nucor and Cleveland-Cliffs.
US Steel also announced a $100-per-ton increase but did not specify a target base price for hot-rolled coil.
“The increase is applicable to all new spot orders and all recent quotations that have not yet been accepted,” the steelmaker said in a letter addressed to its commercial team on Tuesday, Feb. 21.
ArcelorMittal, in addition, said it had opened its April order book for hot-rolled products and that April orders for cold-rolled and coated products must be received no later than March 1.
The company’s presence in the US comes primarily via AM/NS Calvert, a sheet mill in Alabama. The facility is a joint venture with Japan’s Nippon Steel.
By Michael Cowden, michael@steelmarketupdate.com
Michael Cowden
Read more from Michael CowdenLatest in Trade Cases
Nippon respects HR dumping decision, expects lower rate in next review
Nippon Steel says it respects the US Department of Commerce’s findings in administrative reviews despite the agency recently assigning the Japanese steelmaker a higher dumping margin.
CRU: Trump tariffs could stimulate steel demand
Now that the dust has settled from the US election, as have the immediate reactions in the equity, bond, and commodity markets, this is a prime opportunity to look at how a second Trump presidency might affect the US steel market.
Rebar import duties to continue for 5 more years
Import duties on rebar from a handful of countries will continue to be collected for at least another five years.
Leibowitz: Trump 2.0 signals Cold War 2.0 trade and China policies
China is one of the elephants in the room as the transition to Trump 2.0 continues. While the people and policies are still being formulated, it’s possible to detect a strategy for the new Trump administration. I think there are two imperative issues that the new administration needs to balance. The Trump strategy will, I believe, follow the following points. First, trade is one of the issues that got President Trump elected in 2016 and 2024—it nearly got him elected in 2020, save for the pandemic. If President Trump had won in 2020, I might be writing chronicles about the end of his eight years in the White House now instead of projecting what the next Trump administration would accomplish or break. Oh, well—that’s life. Trade will necessarily be a key feature of relations with China for the next four years.
Commerce says Nippon dumped steel in US in 2022-23
Commerce determined a significant dumping margin for hot-rolled steel imports from Japan's Nippon Steel.