Canadian steel mills join price hike push

Spanish Market: Metals
20/10/23

Two Canadian flat steel mills have increased their spot pricing.

Integrated steelmakers ArcelorMittal Dofasco and Stelco both increased prices on Thursday in announcements to customers.

ArcelorMittal Dofasco raised hot-rolled coil (HRC) minimum prices to C$1,100/short ton ($803/st), a similar price to ArcelorMittal's joint venture rerolling mill in Calvert, Alabama and matching US mill's minimum price levels.

Dofasco's took cold rolled coil (CRC) and hot-dipped galvanized (HDG) coil pricing to C$1,440/st, with galvanneal at C$1,450/st and galvalume hitting C$1,480/st.

Stelco raised its spot prices by C$135/st on its flat steel products without setting a minimum price level.

The moves came at the same time as US steelmakers Cleveland-Cliffs and Nucor increased minimum HRC prices to $800/st.

The Argus US HRC Midwest and southern ex-works assessments were at $750/st on 17 October.

By Rye Druzin

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