Steel Prices

AM/NS Calvert Increases Sheet Again, Seeks $900/ton HR base

November 1, 2023

ArcelorMittal has joined U.S. Steel and Cleveland-Cliffs in aiming to push sheet prices higher, according to an internal commercial memo on Oct. 31.

In the memo, ArcelorMittal set minimum base prices for product from AM/NS Calvert – its joint venture mill in Alabama with Japan’s Nippon Steel – at $900 per ton ($45 per cwt) for hot-rolled coil (HRC) and $1,150 per ton for cold-rolled and coated products.

The increase was effective immediately and applies to all new sport orders as well as any offers received but not yet accepted by AM/NS Calvert. “We reserve the right to modify any outstanding quotations,” the memo added.

ArcelorMittal made the announcement at the same time that it opened its hot rolled and tandem order books for January,

It was AM/NS Calvert’s second price increase in less than 10 days and followed similar increases by U.S. Steel and Cleveland-Cliffs on Oct. 26 and Oct. 31, respectively.

Recall that the recent price hikes followed an initial increase by Nucor on Oct. 19. At the time, the Charlotte, N.C.-based steelmaker announced it would seek a minimum of $800 per ton for HRC.

SMU’s HRC price currently stands at $810 per ton on average.

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.