<article><p class="lead">Canadian integrated steelmaker Stelco has increased its flat-rolled steel prices by C$80/short ton (st) ($59.10/st).</p><p>The Ontario-based steelmaker is raising prices on all non-contract transactions, effective immediately. The announcement does not give a minimum price target.</p><p>Stelco's move follows similar announcements by US-based steelmakers <a href="https://www.argusmedia.com/metals-platform/newsandanalysis/article/2395228-Cliffs-ups-flat-steel-spot-prices-by--60-st">Cleveland-Cliffs</a> and <a href="https://www.argusmedia.com/metals-platform/newsandanalysis/article/2395705-US-Steel-raises-flat-rolled-prices-by--60-st">US Steel</a>, which both increased their flat-rolled prices by $60/st on 28 November. </p><p>The US price moves flattened the <i>Argus</i> US hot-rolled coil (HRC) Midwest ex-works assessment this week as the market works to figure out where prices could be headed. </p><p>Steelmaker Nucor announced on 29 November it was dropping its plate prices by $140/st. Plate market participants have expected plate prices to fall, eventually coming more in line with HRC pricing, which plate has traditionally tracked closely.</p><p>Currently, the plate to HRC spread is $973/st, and HRC pricing has fallen by 60pc since the beginning of the year. Plate prices are down by 12pc in the same period.</p><p class="bylines">By Rye Druzin</p></article>
