Prices
April 6, 2014
Nucor, Severstal & NLMK USA Announce New Flat Rolled Price Increases
Written by John Packard
On Friday morning, April 4th, Nucor became the first mill to announce a new wave of flat rolled steel price increases.
In a letter to their customers, the Nucor Sheet Mill managers advised that effective immediately, minimum base prices would be as follows:
Hot Rolled = $34.25/cwt ($685 per ton)
Cold Rolled = $40.75/cwt ($815 per ton)
Galvanized = $40.75/cwt ($815 per ton)
This represents a $25 per ton increase above the prices announced on March 17th by ArcelorMittal which Nucor matched on Wednesday, March 19, 2014. At that time, hot rolled prices were referenced as being $33.00/cwt ($660 per ton) and cold rolled and coated were $39.50/cwt ($790 per ton).
Later in the day NLMK USA came out with a $30 per ton price increase. When added to the previously announced $660 per ton for hot rolled this would put NLMK at $690 per ton and on coated they would move from $790 to $820 per ton base prices on cold rolled and coated (assuming they are pricing their increase off prior announced base price levels).
Late in the day Severstal came out with a price announcement matching the Nucor $685 and $815.
