Prices
Nucor, AK Steel & NLMK USA Hike Flat Rolled Prices
Written by John Packard
November 8, 2016
After ArcelorMittal USA announced specific minimum base price levels on Monday we had three steel mills come out with flat rolled steel price announcements on Tuesday. However, none of the mills advised of specific base price levels but rather announced dollar per ton increases. The three mills are Nucor, AK Steel and NLMK USA.
Nucor and AK Steel have both come out with $30 per ton price increases on all flat rolled spot sales out of their mills. This is the second increase totaling $60 per ton ($3.00/cwt) going back to October 21st when US Steel kicked off the current up cycle.
NLMK USA came out with $30 per ton ($1.50/cwt) price increases on hot rolled and $40 per ton all other flat rolled products produced at their mills. This is the second increase in the current cycle which began on October 21, 2016. The two increases announced by NLMK USA now total $60 per ton ($3.00/cwt) on hot rolled and $70 per ton on cold rolled and coated steels.
We are hearing base prices are ranging from $26.00/cwt to $26.50/cwt on hot rolled at most of the domestic mills. Cold rolled and coated products appear to be targeting a $37.00/cwt base although we are aware of mills quoting in the $35.00/cwt-$36.00/cwt range to fill out their December order books.
John Packard
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