Steel Market Update learned early Monday afternoon that NLMK USA increased their flat rolled steel pricing effective immediately. NLMK USA management directed their sales staff through an internal email to raise base prices on hot rolled steel to $35.00/cwt ($700 per ton), cold rolled to $40.50/cwt ($810 per ton plus extras) and galvanized base prices to $40.50/cwt ($810 per ton plus extras).

The sales staff was told all prices are “effective immediately.”

NLMK USA did not adjust their coating weight extras as of this time according to our sources.

Severstal NA began making price announcements last week when they advised their customers of their intention to raise prices by $30 per ton. The Severstal announcement took base prices to $35.00/cwt on hot rolled and $40.50/cwt on cold rolled and coated.

Late last week Nucor advised their coated customers of an adjustment (down) in their coating weight extras.

Coated steel buyers may want to jump on the Nucor bandwagon before they make their next announcement on base prices.

Steel Market Update newsletter will have more about the domestic mill price increases and what it means to the industry. We publish again on Tuesday evening.