On the heels of an immediate $1.00 cwt. ($22/mt or $20/nt) flat rolled price increase from Nucor Sheet Mill Group Thursday, at least two other mills said they would be raising prices on Friday.
AK Steel said it will increase current spot market base prices for all carbon flat-rolled steel products by $1.50 cwt. ($33/mt or $30/nt), effective immediately with new orders.
Also Friday, ArcelorMittal USA said that effective immediately, prices on all new inquiries and orders on hot rolled, cold rolled, and coated sheet products will be increased by $1.00 cwt. Unlike AK Steel and Nucor, which gave not direct reason for the increase, ArcelorMittal said "this action is necessary in order for us to continue our mission of restoring a fair value for our products and services."