U.S. Steelmakers Announce Further Hike in Flat-Rolled Steel Prices

SEATTLE (Scrap Monster): The major U.S. steelmakers have hiked prices for flat-rolled steel products. This is the third hike in less than a month, sources said. The manufacturers to raise HRC prices include ArcelorMittal and U.S. Steel.

U.S. Steel announced hike of $30 per short ton for HRC to $590 per short ton. The company raised the prices for cold-rolled coil (CRC) and hot-dipped galvanized (HDG) to $790 per short ton. Meantime, ArcelorMittal’s HRC prices were $600 per short ton, surging higher by $40 per short ton. The CRC and HDG prices climbed higher to touch $810 per short ton.

Over the past one month, U.S. Steel and ArcelorMittal have hiked the flat rolled prices by $110 per short ton and $120 per short ton respectively. The price hike by other U.S. steel makers averaged at $40 per short ton during this period. It must be noted that SSAB had increased its steel plate prices by $40 per short ton.