In a letter to customers Tuesday, Severstal North America announced its new published base prices on flat rolled steel products. New prices reflect an increase of about $1.00 cwt. ($22/mt or $20/nt) over the company's previous price increase on June 27.
Product |
Base |
FPO |
FPO 6 |
Hot |
$33.75 |
34.75/cwt. ($766/mt |
$35.75/cwt. |
Cold |
$38.75/cwt ($854/mt |
$39.75/cwt. |
$40.75/cwt. ($898/mt |
HDG |
$38.75/cwt. |
$39.75/cwt. |
$40.75/cwt. ($898/mt |
The Firm Price Option (FPO Extra) reflects producer price risk: valid only when published base prices are used and must be formally agreed to by both parties prior to establishment of the agreement.
Severstal said the new prices above are effective for all orders not yet acknowledged or confirmed. Published price book extras, will continue to apply. Quotations for spot business or new orders not covered by a contractual agreement will be quoted at the prices noted above.