Leading US steel corporation US Steel raised flat steel prices by $ 60 per tonne amid recovering market demand from deep lows. This is the third increase in US Steel prices since July 21.
The steel company has increased its spot prices for hot rolled coil (HRC), cold rolled coil (CRC) and hot dipped galvanized (HDG) products by $ 60. US Steel is currently targeting a minimum price of $ 600 per tonne for HRC and $ 800 per tonne for CRC and HDG.
US plate lead times increased to 8-10 weeks last week as service centers rushed to buy all metal at old prices amid increased demand.
Earlier it was reported that the American manufacturer of steel in electric arc furnaces Nucor at the end of August increased prices for flat products by $ 40 per ton.