Integrated steelmaker US Steel has increased flat-rolled steel prices by $60/short ton (st) as the market rebounds from deep lows in August.
The steel company today raised its spot pricing for hot-rolled coil (HRC), cold-rolled coil (CRC) and hot-dipped galvanized (HDG) products by $60/st. US Steel is now targeting minimum pricing of $600/st for HRC and $800/st for CRC and HDG products.
HRC lead times last week grew to 8-10 weeks from 7-8 weeks, as service centers struggle to find available metal on the market amid higher demand.
US Steel and electric arc furnace (EAF) steelmaker Nucor increased flat-rolled prices by $40/st at the end of August.
It is the third price increase by US Steel since 21 July. Argus' USHRC assessment fell to a historical low of $450/st in the week ending 11 August but has since risen by 20pc to $540/st in the week ending 8 September.
