The much anticipated price increase announcement finally happened early last week when ArcelorMittal raised prices $20/st. Domestic steel mill’s production levels have retreated from an almost 4.5 year low while lead times have bounced off of 2 year lows. Crude oil and ore prices have rebounded from their lows while the U.S. dollar is in retreat from its highs. Import levels are trending lower. These improving fundamentals look to have given enough confidence to the mills that NLMK followed with their own price increase announcement. The other mills have unofficially followed suit thus far.