Steel Mills

Nucor Adjust Flat Rolled Steel Prices in Line with Other Mills
Written by John Packard
October 3, 2013
Nucor was the last of the major domestic flat rolled mills to come out with new minimum base price levels on flat rolled steel products. Nucor chose to mimic those of ArcelorMittal and not NLMK or AK Steel whose announcements were slightly different than the rest of the industry.
Nucor advised their customers through use of a letter which was emailed earlier today that their base prices would be as follows “effective immediately:”
Hot Rolled $34.00/cwt $680 per ton
Cold Rolled $39.50/cwt $790 per ton
Galvanized $39.50/cwt $790 per ton
Extras are not included in the base prices referenced above.
On Tuesday, Steel Market Update (SMU) published new indices on flat rolled products. Based on our market analysis we have hot rolled coil averaging $635 per ton, cold rolled at $745 per ton average and galvanized base price averaging $37.50/cwt. Our hot rolled number has been bouncing between $635 and $645 per ton for a number of weeks.
Essentially, the change from the average is approximately $40 per ton higher than our indices.
Prior to the Nucor announcement NLMK USA put out pricing that was $10 per ton less than the above on hot rolled and $20 per ton less on cold rolled and coated. AK Steel matched all the items except coated which they put at $40.50/cwt base plus extras. Most of the other mills are following ArcelorMittal guidance with the numbers shown above.
There continue to be a few mills who have advised Steel Market Update that they are working with their customers to come up with fair and competitive market pricing.

John Packard
Read more from John PackardLatest in Steel Mills

Algoma sees narrower Q2 loss but feels tariff sting
Algoma Steel expects a narrower sequential loss in the second quarter, but the company continues to be impacted by the US tariff situation.

Nippon plans to double steel output at USS operations: Report
Now that it has acquired U.S. Steel, Nippon Steel is planning a significant expansion of its US operations, including the construction of a new mill and more than doubling its steel output.

Algoma fires up EAF steelmaking with first arc
Algoma Steel reached a milestone in its transformation from blast furnace to electric arc furnace (EAF) steelmaking, with its Unit One EAF achieving its first steel production this week.

Nucor holds HR list price at $910/ton
Nucor is keeping its list price for spot hot-rolled coil unchanged after last week’s shortened holiday week.

Cliffs unveils new hydrogen-powered stainless line in Ohio
CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.