Prices
March 21, 2014
Written by Brett Linton
In our Thursday evening issue, we published an article regarding recent price increase announcements out of Nucor, California Steel Industries (CSI), and AK Steel. We incorrectly stated the increase out of CSI as $40.00/cwt for all products, when it was really a $40 per ton increase. We apologize for the error. The image below is hyper linked to a copy of their price increase announcement.
Sources say domestic mill lead times and consumer spot prices have increased this week.
Most steelmaking raw material prices remained stable over the past month. Prices are mixed in comparison to this time last year.
The price gap between stateside hot band and landed offshore product shrank week over week (w/w).
SMU’s price indices increased across the board this week, reaching new multi-month highs.
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week. Now at $910 per short ton (st), up $15/st from last week.