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ArcelorMittal (MT) raised sheet prices by $20/ton (or 3%) to $720/ton today, according to American Metal Market, fresh on the heels of mid-March price increases ranging from $30-50/ton from a number of domestic steel companies and MT’s  own move of setting its hot-rolled sheet prices at $700/ton.

We believe that at least a piece of the original price increase has been holding, and this second increase will support the first and is a typical pattern.

Our full report provides further thoughts about domestic and global steel prices as well as the implication for steel equities.

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