Steel Products Prices North America
Nucor, NLMK Come Out with Price Increase Announcements
Written by John Packard
March 3, 2016
There has been some confusion in the marketplace as many mills were waiting for Nucor and SDI to come out with new price announcements after SSAB and ArcelorMittal led the way earlier this week. On Tuesday, NLMK USA representatives began verbally informing their customers that their spot prices on hot rolled, cold rolled and galvanized would go up by $30 per ton ($1.50/cwt). This morning Nucor put out a letter to their customers advising them that their spot flat rolled steel prices would also increase by $30 per ton.
When looking at NLMK USA and Nucor Berkeley lead times we can get some indication as to why prices have been moving higher.
NLMK put out new lead times to their customers earlier today. Spot lead times were only published on hot rolled which was referenced as the week of March 21st (3-4 weeks) out of Farrell as well as their Portage EAF operation where they reported a “limited amount” of melt available.
Cold rolled and galvanized out of NLMK were quoted as being “Inquiry” only for spot tonnage and into the week of May 9th (10-11 weeks) on both products for contract tons.
Nucor Berkeley provided lead times this morning to their customers which had spot hot rolled lead times out much further than those noted by NLMK. Nucor Berkeley HRC out to 54” wide are being quoted as the week ending April 23rd (7-8 weeks) and over 54” being out an extra week.
On cold rolled, Berkeley reported the week ending May 28th on widths up to 54” (12-13 weeks) and over 54” being an extra week on top of that.
All galvanized out of Berkeley was being quoted as “Inquire” only.
John Packard
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