Flat Rolled Steel Prices Continue to Move Higher as Week Progresses
Everyone thought the pricing put into the marketplace by Nucor on Monday evening of this week would be the last in a flurry of price changes to hot rolled, cold rolled, galvanized (and Galvalume through other suppliers) steel coil. Steel Market Update (SMU) sources are advising us of at least two more price adjustments above the Nucor on cold rolled and coated steels.
In a memo to their customers, Duferco Farrell, NLMK-Indiana and Sharon Coatings advised “Effective immediately with all new orders NLMK Indiana, Duferco Farrell and Sharon Coating will implement a minimum base price of $34/cwt, $40/cwt for cold roll and $40/cwt for coated products.”
The new pricing represents an increase of $20 per ton for hot roll and $40 per ton on cold rolled and coated over and above the pricing set by the mill earlier this week.
Our sources are advising of moves being made by other domestic mills late on Wednesday and SMU will have more details in this evening’s edition of our Steel Market Update newsletter.
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