On Friday, US Steel said in a letter to customers that effective immediately, base pricing for all new flat-rolled products spot orders is increased by a minimum of $1.25 cwt. ($28/mt or $25/nt). This increase is applicable to all open quotes and/or negotiations where an agreement is yet to have been concluded, and pricing extras will continue to be fully applied.
This is the fourth in a series of price increases that began in late May. Earlier this week, Severstal NA announced a $1.00 cwt. ($22/mt or $20/nt) price increase and AK Steel announced that it was raising prices by $1.25 cwt.