Steel Products
February 27, 2013
U.S. Steel Announces New $50 per Ton Price Increase
Written by John Packard
Steel Market Update (SMU) started receiving calls by late this afternoon advising us to prepare for a new round of price increase announcements. This afternoon, United States Steel Corporation (USS) put out a letter under the signature of RY Kopf, General Manager North American Flat-Rolled Marketing, advising the various General Managers of Sales of an immediate change to USS spot pricing.
According to the memo seen by SMU, “Effective immediately, base pricing for all new Flat-rolled products spot orders is increased by a minimum of $50 USD per net ton. This increase is applicable to all open quotes and/or negotiations where an agreement is yet to have been concluded, and pricing extras, as published on our corporate web site, will continue to be fully applied.” From a midwest service center.
