Both Nucor and Severstal NA came out with new pricing on hot rolled, cold rolled and galvanized steels effective with all new non-contract orders. Nucor advised their customers of their intention to increase all flat rolled steel products by $40 per ton ($2.00/cwt). Severstal increase was more specific as the mill provided base prices for each product.

Severstal increased their hot rolled base to $30.50/cwt or $610 per short ton. The Nucor $40 per ton increase is projected to be $30.00/cwt or $600 per short ton (+/- $20 per ton).

Severstal cold rolled base price was adjusted to $35.50/cwt or $710 per short ton. According to SMU sources the Nucor price increase should be essentially the same (+/- $20 per ton).

Severstal galvanized base price was adjusted to $36.50/cwt + applicable extras ($730 per ton + extras). Our sources are projecting Nucor base price on HDG (hot-dipped galvanized) to be $36.00/cwt + Nucor extras ($720 per ton + extras).

Severstal Galvalume base price was adjusted to $36.50/cwt + applicable extras ($730 per ton + extras). Nucor does not produce Galvalume.

In this evening's edition of Steel Market Update we have a full recap of the price increase announcements and how they will impact North American customers. For access to tonight's edition as well as all past editions and full access to our website - www.steelmarketupdate.com - please register for a free trial online.