Posted on 15 Dec 2022
Steel producer NLMK USA has increased its flat-rolled steel prices by $50/short ton (st).
The price increase announced yesterday by the US subsidiary of Russian steelmaker NLMK came shortly after US-based integrated steelmaker Cleveland-Cliffs raised its flat steel prices by $50/st with a target of $750/st for hot rolled coil (HRC).
NLMK USA operates a slab rerolling mill in Pennsylvania and an electric arc furnace flat-rolled mill in Indiana.
The market is waiting to see if other steelmakers will follow. Two weeks ago five steelmakers across Canada and the US announced $60/st price increases within a few days of each other. A portion of those price increases have taken hold in the market, with steelmakers unwilling to budge from their HRC price targets of $680-700/st, the price range some of them sought before these latest announcements.
Source:Argus Media
