For the second time in about a week ArcelorMittal USA has announced a sheet steel price

increase in the US market -- this time a $40/st move, effective immediately, the steelmaker 

told customers in a letter issued late Monday. 

ArcelorMittal  informed customers that its new minimum base prices are $560/st for hot-roll

ed coil and $780/st for cold-rolled coil and hot-dip galvanized/galvalume sheet (substrate). 

If other sheet makers follow, it would be the third round of US sheet price hike announcem

ents in about three weeks. "Seems like continued momentum," said  one  American  sheet 

buyer. 

Mills announced $30/st price hikes near the end of October, followed by another $30/st la

st week, and now the $40/st move by  ArcelorMittal. Mills  have achieved about $40/st of t

he announced increases on HRC thus far and less on CRC, which didn't fall as steeply as

HRC in the months prior to the increase announcements. 

"These  prices  are  applicable  to  all  new  orders  and  recent  quotations  that have not 

yet   been    accepted   and   acknowledged   with   an   ArcelorMittal  or   AM/NS   Calvert

Order Acknowledgment,"  ArcelorMittal said in a November 14 letter to customers seen by 

S&P Global Platts."We reserve the right to change any outstanding quotations or pending 

orders without further notice. Our books are also now opened to receive orders for  produ

ction and shipments in January of 2017.