Steel Mills

Nucor, UPI Adjust Coating Extras
Written by Tim Triplett
August 30, 2018
The Nucor Sheet Mill Group and USS-POSCO Industries have notified customers of changes in their coating extras as a result of lower zinc prices. The announcements follow on a similar letter to customers from California Steel Industries (CSI) last week.
Nucor’s Aug. 30 letter stated: “Consistent with our practice to monitor the cost of zinc, we have revised our galvanized coating weight extras effective with new orders acknowledged to ship the week ending Oct. 6, 2018. Price extra sheets can be accessed at www.nucorsheetmills.com.”
UPI’s notice to customers stated: “USS-POSCO Industries (UPI) has revised the published price extras for Galvanized products. The new extras will apply on all new sheet orders validated for November 2018 delivery. The new price book for the extras can be found…on our website.”
Buyers of galvanized steel had been waiting to see if and when the mills would adjust their coating extras to reflect the lower cost of zinc. The price of zinc has dipped to as low as $1.05 per pound this month, from highs above $1.60 per pound in February. CSI’s new extras showed an average reduction of 14.1 percent, according to Steel Market Update’s calculations.

Tim Triplett
Read more from Tim TriplettLatest in Steel Mills

Explosion rocks ArcelorMittal’s DR plant in Mexico
ArcelorMittal reported a "strong" explosion at the direct reduction part of its massive Lazaro Cardenas mill in Mexico.

SDI to acquire remaining stake in New Process Steel
Steel Dynamics Inc. (SDI) announced that it has agreed to acquire the remaining 55% equity interest in New Process Steel.

North Star results improve despite buyer caution as tariffs drive prices higher
North Star BlueScope said it is optimistic that US tariffs will bolster selling prices and tighten the spread the Australia-based steel maker suffered in 2025.

AISI: Domestic steel production edges down
US raw steel production declined last week, according to the latest data released by the American Iron and Steel Institute (AISI).

Cliffs inks longer-term contracts with US automakers hedging tariff inflation: Report
Cleveland-Cliffs Inc. has reportedly signed "unusually long" fixed-price supply agreements with multiple US automakers.