The Nucor Sheet Mill Group informed customers on Friday of this past week, that it is raising base prices on new orders by a minimum of $30 per ton on hot rolled, cold rolled and galvanized products. Nucor’s latest hike follows a $40 per ton increase the steelmaker announced on flat rolled spot prices early this month.
On Thursday, ArcelorMittal USA announced new base prices for its sheet products, setting hot rolled at $750 per ton ($37.50/cwt) and cold rolled and hot-dipped galvanized at $930 per ton ($46.50/cwt).
West Coast steel mills California Steel Industries (CSI) and USS-POSCO Industries (UPI) kicked off the latest round of price increases with their announcements Wednesday. CSI raised transaction prices by $60 per ton on hot rolled and P&O, $40 per ton on galvanized and $30 per ton on cold rolled. UPI announced a $60 per ton increase on hot rolled P&O and $40 per ton hikes on cold rolled and galvanized.
SMU expects that the rest of the domestic steel mills will raise prices as this week progresses.
Tim TriplettRead more from Tim Triplett
Latest in Steel Products Prices North America
SMU Price Ranges: Sheet Slips Again on Strike, But Is a Bottom in Sight?
Sheet prices slipped again this week on news of the United Auto Workers (UAW) strike and continued caution among some consumers.
HRC vs. Galv Price Spread Widened This Summer
The spread between hot-rolled coil (HRC) and galvanized sheet base prices widened throughout the summer as hot rolled prices declined faster than those of galvanized.
SMU Price Ranges: Sheet Slips Again on UAW Strike Fears
Sheet prices fell across the board ahead of what many market participants predict will be a strike by the United Auto Workers (UAW) later this week.
Nucor Lowers Plate Prices by $40/t
Nucor Corp. will lower plate prices by $40 per ton ($2 per cwt) with the opening of its October order book.
SMU Price Ranges: Sheet Prices Move Lower, No Bottom Yet
Sheet prices have fallen this week, after a small pause last week when prices saw mixed results. Tags have now been largely trending lower since July.