US steelmakers raised flat-rolled prices for the second time in May, even though demand remained far below normal. U.S. Steel, USS-POSCO Industries and NLMK USA told customers that spot prices for hot-rolled, cold-rolled and coated products would rise by 40 dollars a ton with immediate effect. ArcelorMittal USA set minimum base prices of 540 dollars a ton for hot-rolled and 740 dollars for cold-rolled and coated steel. The increases followed rises of 40 to 60 dollars at the end of April. The benchmark hot-rolled price stood at about 480 dollars a ton, up from 460 dollars at the end of April but still well below the 580 dollars seen in mid-March. Mills had idled roughly half of domestic capacity, and some furnaces were expected to return by July as the economy reopened.
Source: Steel Market Update — https://www.steelmarketupdate.com/2020/05/21/steel-mills-announce-another-40-increase-for-flat-rolled/
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