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US Steel to Seek Change to Steel Spot Contract Terms

Steel News - Published on Wed, 14 Aug 2019

Image Source: FE
Seeking Alpha reported that US Steel said that it will not enter into spot market-based adjustable price contracts with its sheet steel customers in 2020 and instead will utilize transaction by transaction discussions including monthly negotiations. The company said some of the volatile and unpredictable North American flat-rolled market conditions have been caused by the increased usage of the adjustable price contract mechanisms.

During Q2, US Steel said spot sales accounted for 23% of its sales, 39% were market-based, 33% were listed as firm contracts and the remaining 5% were cost-based.

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Posted By : Ratan Singh on Wed, 14 Aug 2019
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