Cleveland-Cliffs and US Steel announced a $60 per short ton increase in flat steel prices. The increase in prices is due to the fact that the volume of orders of these two steel mills reached saturation in December. They are preparing for a price hike next January, pushing the price hike forward to test the market's reaction.
Because both steel mills are blast furnaces, they have a complete range of products and good quality, and it is easier for them to get orders than small and medium-sized electric steel plants.
However, the orders of small and medium-sized metallurgical plants have not yet been filled in December, so they are unlikely to raise prices. Instead, they can take advantage of this opportunity to receive orders at original prices. The circulation price of hot-rolled steel remains unchanged, mainly because small and medium-sized metallurgical enterprises are eager to receive new orders.
US Steel and Cleveland-Cliffs raise flat steel prices
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Azovpromstal® 6 December 2022 г. 11:08 |
