Prices
December 17, 2019
More Price Hikes from Nucor, U.S. Steel, UPI
Written by Tim Triplett
As widely expected, Nucor and U.S. Steel raised their flat rolled prices by $40 per ton on Monday, effective immediately on new spot orders, following on a comparable announcement by ArcelorMittal USA on Friday. NLMK USA is reported to be following suit, but has not issued a written announcement.
USS-POSCO Industries (UPI) raised its base prices for all sheet products, including hot rolled P&O, cold rolled and galvanized, by a minimum of $80 per ton on Monday. On top of the $40 increase the company announced on Oct. 25, that brings UPI roughly in line with its competitors.
The latest announcements—the fourth round of increases in the past two months—total up to $150 per ton ($7.50/cwt). Steel Market Update puts the current average HRC price at $570 per ton($28.50/cwt), up around $100 per ton from the low point in early October.
The mills are hoping the latest price hike will help them maintain the upward momentum. SMU data shows little movement in flat rolled steel spot prices over the past week.
