Steel Products
March 4, 2013
The Eyes of March are Focused on Scrap
Written by John Packard
Last week the domestic steel mills made their statement by raising prices on flat rolled steel. Led by U.S. Steel most mills followed their lead and pushed prices by $50 per ton. Two mills – Severstal and ArcelorMittal – put base prices to their announcements with hot rolled being referenced as starting at a “minimum” of $650 per ton ($32.50/cwt) and cold rolled and coated at $760 per ton ($38.00/cwt).
Now the domestic mills need support from their scrap suppliers – in the form of higher scrap prices. Higher scrap prices will help support the price increases (which they did not do going into February).
