This evening (Monday) Nucor began advising their flat rolled steel customers of their intention to raise base prices on Hot Rolled, Cold Rolled and Galvanized steel by a minimum of $40 per ton ($2.00/cwt) “effective immediately.”

The price increase is in line with our expectations. The Nucor increase is slightly lower than the one announced by U.S. Steel earlier today. There were no reasons provided for the price increase but it is well known within the industry that scrap prices are climbing and the expectation is for Busheling to be up by $20-$40 per ton this month.

The advisory from Nucor came in the form of a letter to their customers sent out by the various Sales & Marketing Managers of the Nucor Sheet Mill Group.

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