US Steel, NLMK and Algoma Steel today became the latest North American steelmakers to announce a $40/short ton (st) increase in flat-rolled steel prices.

The announcements come a day after electric arc-furnace (EAF) steelmaker Nucor and ArcelorMittal both announced $40/st increases to flat-rolled steel pricing.

Pittsburgh-based US Steel last raised prices on 26 June, a week after it announced it would idle 200,000-225,000 st/month of steel production beginning in July. NLMK had last raised prices on 25 June to $560/st for hot-rolled coil (HRC) products and $700/st for cold-rolled coil (CRC) and hot-dipped galvanized (HDG) products.

Many US steelmakers have announced $80/st of price increases in the last two weeks after the Argus HRC assessment hit a low of $521.75/st on 25 June, a $218.25/st drop since the beginning of the year. The Argus HRC assessment fell $2/st yesterday to $539.50/st.