Steel Products Prices North America

It's March Madness! Nucor, ArcelorMittal & NLMK Announce $30 Price Increase

March 17, 2016

Earlier this week Nucor Plate Group and SSAB announced price increases on plate products (with SSAB also including hot rolled coil) of $40 per ton. Over the past few months we have seen the plate mills lead the charge with sheet mills following close behind. This week was no different.

Three mills announced flat rolled price increases this afternoon: Nucor, ArcelorMittal USA and NLMK USA all went up by a minimum of $30 per ton ($1.50/cwt) effective immediately. This is the fourth price announcement since early December 2015.

Nucor and NLMK informed their customers through the use of an emailed letter. James Banker, Jr., Executive Vice President, Commercial for NLMK USA advised their customers, “Due to improving market demand, extending lead times, and increased raw material costs, NLMK USA is increasing price for all products by a minimum of $30 per ton.”

ArcelorMittal USA had their sales representatives send an email to their customers advising that all flat rolled products (including Galvalume, Electro-Galvanized and Aluminized) were increasing by $30 per ton.

Steel Market Update will have more about what this means to the marketplace, where the new minimum base price levels should be and the reaction of buyers in our next issue of Steel Market Update.