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
August US mill shipments slip but still higher than last year
The American Iron and Steel Institute reported a decline in the monthly shipments of US mills from July to August.
TransPod, Algoma, Supreme Steel linkup anchors Canadian steel in high-speed transit build
The three Canadian companies have announced a strategic partnership to support the development of an ultra-high-speed transit line from Edmonton to Calgary.
Metallus, USW agree to tentative four-year labor deal
Metallus and the United Steelworkers (USW) have agreed to a tentative four-year labor contract.
ArcelorMittal Dofasco resumes cokemaking after emergency maintenance
The Canadian steelmaker reported on Sept. 30 that “urgent maintenance” was needed in its coke plant off-gas systems. The work required coke oven gas from the No. 2 coke plant to be flared for most of that week.
AISI: Raw steel production ticks back down
US raw steel output declined last week after increasing the week prior, according to the latest data from the American Iron and Steel Institute (AISI). Output has see-sawed from week to week since mid-August. Still, it has remained historically strong over the past four months and has held near multi-year highs since June. Domestic mills […]