Severstal North America announced Monday that effective immediately, the company is issuing an increase of a minimum $2.00 cwt. ($44/mt or $40/nt) on all new orders for Hot Roll, Cold Roll and Galvanized products promised for shipment through December 31, 2010.
Severstal cites escalating raw material costs and increased demand for the increase, and in order to partially recover cost increases, it will also revise its pricing effective with all new orders promised January 1, 2011 and later.
Current spot prices on flat-rolled products are as follows:
Hot Rolled Bands $29.00 cwt. ($639/mt or $580/nt)
Cold Rolled $34.00 cwt. ($750/mt or $680/nt)
Hot Dipped Galvanized $34.00 cwt. ($750/mt or $680/nt)
Galvalume $34.00 cwt. ($750/mt or $680/nt)