|
Article Excerpt
Steel prices continue to recover, reflecting increased demand as the domestic economy improves, U.S. Steel Chairman and CEO Thomas J. Usher said recently. "Most of our minimill competitors have initiated scrap surcharges as costs for all raw materials continue to escalate. We will continue to aggressively pursue price increases as market conditions warrant," he added.
American Metal Market quoted hot-rolled sheet, Midwest, at $18 per hundredweight ($360 per ton) on Jan. 13, with cold rolled at $22 per cwt ($440/ton), Midwest. Stainless cold-rolled sheet (Grade 304) was quoted at $67 a hundredweight ($1,340 per ton).
Steel producers across North America and the world have raised prices. For example, Nucor raised its hot-rolled sheet price by $40 a ton Dec 9. AK Steel raised prices $50 a ton on hot rolled sheet and $60 a ton on cold-rolled and coated sheet. Carbon steel and electrical sheet and strip shipments from AK include a $30 raw materials surcharge.
Quebec's Stelco-McMaster Ltee on Jan. 15 raised prices Cdn $26 per metric ton on merchant bars, and added a raw materials surcharge of Cdn $22 per ton on deformed concrete reinforcing bars, based on rising costs for scrap, energy, ferroalloys, labor and supplies.
South Korea's Pohang Iron & Steel Co. (Posco) said in mid-January that it planned to raise prices of hot-rolled steel. "We have no choice but to raise steel prices to reflect higher raw material costs," Posco's chief executive told analysts.
Even after raising steel prices, several...
|
|
More articles from Metal Center News
Obituary.(Service Center News)(Brief Article)(Obituary), February 01, 2004
Stainless Steel Services Inc.(Brief Article), February 01, 2004
Longer stick smaller carrot: salespeople have worked harder and stretc..., February 01, 2004
Pro-Eco offers high level of automation.(Slitters, Knives & Tooling)(B..., February 01, 2004
Accuracy, quality of cuts improved with right tooling.(Slitters, Knive..., February 01, 2004
Looking for additional articles?
Search our database of over 3 million articles.
Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication
name or publication date.
About Goliath
Whether you're looking for sales prospects, competitive information, company
analysis or best practices in managing your organization,
Goliath can help you meet your business needs.
Our extensive business information databases empower business
professionals with both the breadth and depth of credible,
authoritative information they need to support their business
goals. Whether it be strategic planning, sales prospecting,
company research or defining management best practices -
Goliath is your leading source for accurate information.
|
|
