In a letter to customers Wednesday, AK Steel announced that it would increase current spot market base prices for all carbon flat-rolled steel products by $2.00 cwt. ($44/mt or $40/nt), effective immediately with new orders. NLMK USA made a similar announcement to customers on Wednesday. The announcement follows a similar $2.00 cwt. increase from US Steel on Tuesday.
Meanwhile, Severstal North America issued new base prices on hot rolled, cold rolled and hot dipped galvanized (HDG) coil products, rather than stating a specific price increase. Severstal said that its new HRC base price will be $31.00 cwt. ($683/mt or $620/nt) and CRC and HDG base prices will be $36.00 cwt. ($794/mt or $720/nt).