USS, Nucor, NLMK, Severstal, USS/Posco, California Industries Raise Prices

U.S. Steel verbally began telling their U.S. customers of their intention of raising spot flat rolled prices by $50 per ton. Price increase letters were sent to their customers by Nucor and NLMK USA as they advised their customers of their intention of raising flat rolled spot prices by a minimum of $50 per ton. The NLMK letter also specified “all published extras apply.” The Nucor letter went to special efforts to emphasize the $50 increase was considered the “minimum” amount they anticipate collecting.

In an internal memo to their North American sales team, Severstal advised “effective immediately, our minimum published base prices are: Hot Rolled $32.50/cwt, Cold Rolled $37.50/cwt, Hot Dipped Galvanized $38.00/cwt.” Severstal also advised all published extras will apply and the new prices are effective on all new orders not yet acknowledged or confirmed.