On Thursday, ArcelorMittal USA informed customers of new minimum base prices on all spot orders for hot rolled coil (HRC), cold rolled coil (CRC) and coated products. Effective immediately, ArcelorMittal's HRC spot prices are increased to $31.50 cwt. ($694/mt or $630/nt) and CRC and coated base spot prices will be $36.50 cwt. ($805/mt or $730/nt). The increase letter did not officially state how much of an increase new base prices are from previous prices.
Meanwhile, AK Steel said that it would be raising current spot market base prices for all carbon flat-rolled steel products by a minimum of $2.00 cwt. ($44/mt or $40/nt), effective immediately with new orders.
Other mills are anticipated to follow either with issuing new base prices, or an official price increase.