Steel Products Prices North America

Nucor Kicks Off Second Sheet Increase in Less Than 30 Days
Written by Tim Triplett
February 21, 2019
On Wednesday morning, Nucor announced a $40 per ton ($2.00/cwt) “minimum” price increase on flat rolled steel products. The mill advised their customers the increase was to be “effective immediately.” This is the second price increase announcement out of Nucor in less than 30 days. On Jan. 28, 2019, Nucor announced a $40 per ton ($2.00/cwt) increase as they attempted to stop the slide in spot prices.
The previous announcement did manage to put a cyclical bottom to the spot market prices after benchmark hot rolled had dropped into the low $600s per ton.
Following the Nucor lead with $40 per ton flat rolled price increases of their own were California Steel Industries, NLMK USA, U.S. Steel and USS-POSCO Industries.
ArcelorMittal took a different tack, announcing minimum prices for its flat rolled products. “Over the past couple of weeks, we have experienced a significant increase in order entry for sheet products,” the mill said in a letter to customers, setting a minimum price for new orders of hot rolled sheet from ArcelorMittal USA and AM/NS Calvert at $730 per ton ($36.50/cwt), while cold rolled and hot-dipped galvanized minimums are now $860 per ton ($43.00/cwt). ArcelorMittal’s last price change was a $40 per ton increase on Oct. 11, 2018.
Current spot prices for hot rolled reported by Steel Market Update on Tuesday averaged $680 per ton ($34.00/cwt), unchanged from one week ago. Mill offers are reported to be concentrated in the $680-$700 per ton range with some exceptions as low as $660 per ton.
This morning (Thursday), after consulting with steel buyers and steel mills throughout the week, Steel Market Update adjusted our Price Momentum Indicator to Higher. It is our opinion that flat rolled steel prices will move higher over the next 30 days.

Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America

SMU Price Ranges: HR holds, galv slips amid competing market narratives
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.

Nucor carries $875/ton HR list price into week seven
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Oct. 6

SMU Price Ranges: A newsy week sees modest price gains despite a quiet spot market
Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.

Nucor increases plate prices by $60/ton
Nucor aims to increase prices for steel plate by $60 per short ton with the opening of its November order book.

Nucor’s $875/ton HR spot price spills into week six
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Sept. 29.