Atlas Tube and NLMK USA raise steel prices amid recovery in demand

SEATTLE (Scrap Monster): American steel producers have announced further price increases for their products, indicating a gradual recovery in market demand. Specifically, NLMK USA is raising prices for hot-rolled and cold-rolled coil by at least $50 per short ton, as well as for coated steel by at least $100/ton. The changes took effect immediately for all new orders, as the company noted in a letter to customers, according to SMU.

NLMK cited improved demand, an increase in orders, and longer delivery times as the reasons for the adjustment. The current average price for hot-rolled coil in the US is around $805/t, which is $20 more than a month ago. According to market participants, the market has bottomed out but is not yet showing signs of a confident recovery due to concerns about future demand.

Following NLMK USA, Atlas Tube, the largest manufacturer of steel pipes and hollow sections in North America, announced price increases. The company is increasing the cost of mechanical pipes, HSS, and pile products by at least $50/t for all new orders.

Experts note that the autumn period of technical shutdowns, low import levels, and reduced customer inventories are creating the conditions for further market stabilization in Q4.

At the end of September and in October, the global hot-rolled coil market showed opposite trends in key regions. European prices rose under the influence of the expected strengthening of trade protection, while the US saw prolonged stability amid weak demand, and China again lowered its prices due to excess inventories and uncertainty about the recovery of the industry.

Courtesy: www.amk.center