Steel Mills
February 16, 2021
CSI Opens May Books, Quietly Increases Prices: Sources
Written by Michael Cowden
California Steel Industries (CSI) has opened its May order book, and the West Coast slab converter has also increased prices, according to market participants.
“The purpose of this letter is to inform you that CSI’s May flat rolled order book is now open,” the company said in a Feb. 16 letter to customers.
The letter did not specify an increase. But market participants said CSI had offered them May pricing $50-80 per ton ($2.50-4.00/cwt) higher than April levels.
Those increases put CSI’s prices, fob mill, at approximately $1,240-1,260 per ton for hot-rolled coil and $1,400-1,420 for cold-rolled and galvanized base, sources said.
While some sources have said domestic prices will peak around current levels, others think they might continue to rise on limited supplies and given that new capacity–namely, Steel Dynamics Inc.’s new mill in Sinton, Texas–won’t come online until this summer.
CSI, approximately 50 miles east of Los Angeles in Fontana, Calif., makes hot-rolled, pickled-and-oiled, cold-rolled and galvanized products as well as welded pipe.
By Michael Cowden, Michael@SteelMarketUpdate.com
