As largely expected, ArcelorMittal USA (AMUSA), NLMK USA and US Steel have announced a second round of price increases for domestic HRC, CRC and HDG coil, effective immediately,
NMLK USA and US Steel have indicated they'll be raising prices by a minimum of $2.00 cwt. ($44/mt or $40/nt), effective immediately, whereas AMUSA has set new minimum base pricing at $27 cwt. ($595/mt or $540/nt), with minimum base pricing for CRC and HDG at $37 cwt. ($816/mt or $740/nt.)
This week's move comes on the heels of the May 1 announcement, where Nucor announced it would be raising flat steel prices by $2.50 cwt. ($55/mt or $50/nt), while US Steel will raise prices by $3.00 cwt. ($66/mt or $60/nt). Also on May 1, AMUSA set their new base price for HRC at $25.00 cwt. ($551/mt or $500/nt), and $35.00 cwt. ($772/mt or $700/nt) for CRC and HDG coil.
Although current flat rolled steel prices are "indeed higher than they were at the end of April, the first price increase has yet to reach full acceptance."
It's widely believed that mills who have not yet announed, are likely to do so "very shortly."