Steel Mills
May 19, 2016
USS/POSCO Raises Steel Prices by $150 Per Ton
Written by John Packard
In a letter to their customers, West Coast flat rolled conversion mill USS/POSCO announced a $150 per ton ($7.50/cwt) price increase on hot rolled pickled & oiled, cold rolled and galvanized steel. The price announcement is effective immediately as the mill has now opened their August order book.
West Coast buyers explained to Steel Market Update that USS/POSCO (also referred to as UPI), a joint venture mill between US Steel and POSCO out of Korea, had been under-priced in comparison to their competition. The new price increase puts their base price levels in the low $40’s per hundredweight ($800+ per ton) which is more in line with where California Steel Industries is expected to be.
