Nucor followed up their verbal price increase of $20 per ton last week with specific base prices yesterday (Wednesday, November 5, 2014). In a letter from the Nucor Sheet Mill Group, the mill advised their customers that their minimum base price levels on spot flat rolled are now: $33.00/cwt ($660 per ton) and $39.00/cwt ($780 per ton) on both cold rolled and galvanized steels. These base prices are right in line with those announced by ArcelorMittal last week.
We have a jammed packed issue this evening so I am not going to spend a lot of time in my final thoughts. Our survey was completed this afternoon and we will have our Power Point presentation on our website by sometime tomorrow afternoon (Friday). The results are, as always, interesting.
A long time SMU member contacted me today and asked if he could separate from their corporate account and become a Premium member. This individual reports to management across the company and found our imports by product, port and country very telling – especially when it came to new countries entering the U.S. market. The answer is “yes” we will work with all of our existing customers in any way possible. If you would like to inquire about an upgrade, add more people to your account or make other changes we are here to serve you: 800-432-3475 or info@SteelMarketUpdate.com.
I am in the office all day on Friday and I will be traveling on business all week next week.
As always your business is truly appreciated by all of us here at Steel Market Update. Tell your steel industry friends about us…
John Packard, Publisher
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