Both AK Steel and ArcelorMittal last week announced they would be raising spot market prices for carbon flat-rolled steel. AK Steel said they would be raising prices by $3.00 cwt. ($66/mt or $60/nt), effective immediately with all new orders. ArcelorMIttal said they would be implementing a new base-price of $40.00 cwt. ($882/mt or $800/nt) for hot dipped galvanized (HDG) coil.
Numerous sources close to SteelOrbis have said the trend of “announced and accepted” for price increases is still holding its course; spot market prices for base-price HDG coil have firmed by approximately $3.50 cwt. ($77/mt or $70/nt) since our last report a week ago, bringing the current average spot market transaction range to roughly $38.00-$39.00 cwt. ($838-$860/mt or $760-$780/nt,) ex-Midwest mill. “Prices are moving up almost daily,” another source added, noting a strong belief that the full ArcelorMittal price increase “will be accepted and it will be the norm for the market.”
“The dumping suits were bound to take a strangle hold on the domestic market at some point,” another service center source added. “Do I think there’s room for things to go up more? Absolutely. People would be naive to think mills won’t try to push prices higher. There isn’t a lot of availability, and yes, demand isn’t exactly robust but the tightness in supply is what’s going to keep this thing going.”
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic HDG base price | $38-$39 | $838-$860 | $760-$780 | up $3.50 cwt. |
| 0.012”x40.875” G30 | ||||
| ex-Midwest mill | $46.50-$48.50 | $1,025-$1,069 | $930-$970 | up $3.50 cwt. |
| 0.019”x48” G90 | ||||
| ex-Midwest mill | $45.50-$47.50 | $1003-$1047 | $910-$950 | up $3.50 cwt. |
| US domestic Galvalume base price | ||||
| ex-Midwest mill | $37.50-$39.50 | $827-$871 | $750-$790 | up $3.50 cwt. |
| 0.019x41.5625 Gr80/AZ55 | ||||
| ex-Midwest mill | $46.50-$48.50 | $1,025-$1,069 | $930-$970 | up $3.50 cwt. |