Nucor Raises Flat Rolled Steel Prices by $40 Per Ton
Nucor announced this morning a $40 per ton ($2.00/cwt) across the board price increase on flat rolled steel products out of all of their flat rolled mills.
Based on the previous information Steel Market Update has seen and heard from Nucor customers in the Southeast last week coupled with conversations with various Nucor customers around the country this morning (Wednesday)it appears all of the Nucor facilities are using the following base prices as a guideline.
Hot rolled - $32.50/cwt base ($650 per ton)
Cold rolled - $37.50/cwt base ($750 per ton)
Galvanized - $38.00/cwt base ($760 per ton + applicable Nucor extras)
Exact pricing can vary from customer to customer and plant by plant. We recommend you contact your Nucor representative to get specific pricing for your account.
The following letter was sent to Nucor customers earlier today:
February 17, 2010
To Our Valued Customers:
Nucor Sheet Mill Group will increase base prices on Hot Rolled, Cold Rolled, and Galvanized products by a minimum of $40 per ton effective immediately.
We reserve the right to review and re-quote any offers that are not confirmed with either a Nucor sales acknowledgement or written acceptance by both parties.
Please contact your Nucor District Sales Manager regarding pricing and availability. Thank you for your continued support of the Nucor Sheet Mill Group.
George Billings Peter Campbell Randy Charles Tim Hill Tyler McGuire Scott Meredith John Sacco
Sales & Marketing Managers Nucor Sheet Mill Group
Again, we highly recommend you contact your Nucor salesperson or sales manager in order to obtain official prices for your account. Exact prices can vary depending at what prices were being charged prior to the increase, a customer's ability to negotiate, credit, lead times and other mitigating factors.
We will have more information about steel prices in the next issue of Steel Market Update (our newsletter) which will be available to subscribers and trial subscribers on Thursday evening. If you would like to register for a free 4-week trial you can do so online at www.steelmarketupdate.com and click on the free trial box on the right hand side of the site.