Steel Products Prices North America

Nucor, NLMK, ArcelorMittal Raise Prices on Flat Rolled Steels

July 20, 2017

On Wednesday, Nucor became the first flat rolled mill east of the Rockies to increase spot prices on hot rolled, HRP&O, cold rolled and galvanized steels. Nucor Sheet Mill Group sent out a letter to their customers advising that effective immediately they were taking pricing up by a minimum of $25 per ton ($1.25/cwt).

On Thursday (today), NLMK USA sent out a short note to their customers of their intention to increase prices by a minimum of $40 per ton.

Steel Market Update (SMU) also heard from ArcelorMittal USA customers who advised us that they were getting phone calls from their AM reps advising them that prices were moving higher. We understand the increases to be $25 per ton, based on an email shared with SMU this afternoon.

When asked where spot base prices are going to be quoted by the domestic steel mills in the coming days, we were told by a few buyers $32.00/cwt on hot rolled ($640 per ton), $42.00/cwt to $43.00/cwt on cold rolled and coated ($840 to $860 per ton).

Steel Market Update will continue to follow this story and provide more details as they become available.