Shortly after 5 PM on Monday, July 30th Nucor advised their sheet customers that the mill was increasing flat rolled prices by a “minimum” of $40 per ton. The prices increases were said to be “effective immediately.”

The letter was signed by the various sheet group managers and stated the price increase was due to “escalating raw material costs and increased order activity.” In an interesting statement Nucor advised their customers they would “continue to monitor market and import pricing and will respond accordingly as necessary.”

Here is the content of the letter sent by Nucor to their customers:

To Our Valued Customers:

Due to escalating raw material costs and increased order activity, the Nucor Sheet Mill Group will increase base prices on new orders by a minimum of:

Hot Rolled: $40 per ton

Cold Rolled: $40 per ton

Galvanized: $40 per ton

These price increases are 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. We will continue to monitor market and import pricing and will respond accordingly as necessary.

Please contact your Nucor District Sales Manager regarding pricing and availability.

Thank you for your continued support of the Nucor Sheet Mill Group.