On Monday, Severstal North America sent a letter to customers indicating that effective with all new non-contract orders received and acknowledged Friday July 6, 2012 and later, minimum published base prices for hot rolled, cold, rolled and coated products will be as follows:
Hot rolled bands: $31.75 cwt. ($700/mt or $635/nt)
Cold rolled bands: $36.75 cwt. ($810/mt or $735/nt)
Hot dipped galvanized: $36.75 cwt. ($810/mt or $735/nt)
Galvanneal: $37.25 cwt. ($821/mt or $745/nt)
Meanwhile, NLMK USA announced an immediate $2.00 wt. ($44/mt or $40/nt) increase Monday on all flat rolled market spot prices.
As of Monday, July 2, current spot market base prices in the US are:
Hot rolled coil: $29.00-$30.00 cwt. ($639-$661/mt or $580-$600/nt) ex-Midwest mill
Cold rolled coil: $34.00-$35.00 wt. ($750-$772/mt or $680-$700/nt) ex-Midwest mill
Hot dipped galvanized base: $34.00-$35.00 cwt. ($750-$772/mt or $680-$700/nt) ex-Midwest mill