Steel Products Prices North America
May 3, 2020
Mills Raise Flat Rolled Prices by $40-$60 Per Ton
Written by Tim Triplett
Demand for steel has suffered a serious blow from the coronavirus shutdowns. Not surprisingly, steel prices have been hurt as well, with hot rolled plunging by $80 per ton since mid-March. What is surprising is that the mills are hoping they can establish a floor for steel prices, even as the economy and demand yet show few signs of recovery. And there seems to be varying opinion on where that floor should be–up $40, $50 or up $60?
Nucor and U.S. Steel followed on ArcelorMittal’s announcement of minimum base prices on flat rolled steel with price increases of their own. Effective May 1, the Nucor Sheet Mill Group raised base prices on new orders of hot rolled, cold rolled and galvanized steel products by a minimum of $50 per ton ($2.50/cwt). U.S. Steel’s North American Flat-Rolled Sales Organization announced that it has raised spot prices by a minimum of $60 per net ton ($3.00//cwt). Pricing extras continue to apply as published.
