It is reported that US Steel announced to hike the prices of steel flat products by USD 40 per short ton. Also, this is the first time that the company raises prices since July 2012.

Industry sources said that US Steel decided to raise prices of steel flat products in order to stop the prices to dip further.

At the same time, the Chinese steelmakers' production cut and the price rise in local market have supported US Steel to hike prices of steel flat products.

Meanwhile, it's predicted that the other steel mills in the US would follow US Steel to increase the prices of steel flat products.

Source - www.yieh.com

(www.steelguru.com)