On Friday Nucor and ArcelorMittal USA followed the lead of NLMK USA, Northstar Bluescope and AK Steel by announcing steel price increases on hot rolled, cold rolled and galvanized coated steels.
Nucor sent a letter to their customers advising them that base prices on new orders would increase by a minimum of $40 per ton ($2.00/cwt). Products affected were hot rolled, cold rolled and galvanized steels.
They also advised that the mill reserved the right to re-quote any offers that are not confirmed with a sales acknowledgement from the Nucor sales department.
Steel Market Update also learned that ArcelorMittal USA began informing their customers that they too were raising spot prices on flat rolled steels by $40 per ton. The news came out in the form of an email from the sales department advising the increase came from Dan Mull.
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