Prices
Nucor, NLMK USA & ArcelorMittal Hike Flat Rolled Prices by $30
Written by John Packard
March 9, 2017
On Wednesday, Nucor Sheet Group announced a $30 per ton ($1.50/cwt) price increase on hot rolled, cold rolled and galvanized steels. The base price increase was to take effect immediately and was the second $30 per ton increase announced since the beginning of the New Year.
Since October 21, 2016 Nucor has made six price increase announcements on flat rolled steel totaling $210 per ton on hot rolled and $200 per ton on cold rolled and coated products.
Later in the day on Wednesday, NLMK USA followed the Nucor lead and advised their customers of their intention to increase spot flat rolled prices by a minimum of $30 per ton.
On Thursday, ArcelorMittal USA sent an email to their customers with the following, “ArcelorMittal USA will be increasing transaction prices on all new orders for SHEET PRODUCTS (HOT ROLLED, COLD ROLLED, GALVANIZED, ELECTROGALVANIZED, & GALVALUME) by a MINIMUM of $30 per a ton.
This increase is applicable to all new orders and recent quotations that have not yet been accepted and acknowledged with an ArcelorMittal or AM/NS Calvert Order Acknowledgement. We reserve the right to change any outstanding quotations or pending orders without further notice.”
In February 2017 ArcelorMittal USA reaffirmed the spot base prices originally announced in January. Hot rolled price minimums were $640 per ton ($32.00/cwt), cold rolled and coated steels were $850 per ton ($42.50/cwt).
With the new announcement the spot base price minimums should become $670 per ton on hot rolled ($33.50/cwt) and $880 per ton on cold rolled, galvanized and Galvalume steels ($44.00/cwt).
John Packard
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