US steel prices continue their steady downward trend. Hot rolled coil prices saw the most significant decline, down 12.6 percent month on month. Plate prices, on the other hand, remained mostly flat, but slowly continued their downward trend, down 2.9 percent.
Steel Producers Demand Price Increases With Falling Steel Prices
Wanting to stop the price decline, US steelmakers once again announced price increases for flat rolled products. Cleveland-Cliffs led the initiative in late November with a $60/st cost increase on new orders. This was soon followed by price increases of $60/st by both US Steel and Stelco. On December 1, Nucor and ArcelorMittal Dofasco did the same.
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