Steel Products
Nucor Raises Flat Rolled by Another $40 Per Ton
Written by Tim Triplett
January 8, 2020
As widely expected, Nucor was the first to announce another $40 increase in flat rolled steel prices today. Other steelmakers are likely to follow suit. This represents the fifth round of price hikes by the major mills since late October totaling around $190 per ton.
In a letter dated Jan. 8, Nucor’s Sheet Mill Group notified customers that the base price for new orders of hot rolled, cold rolled and galvanized steel will increase by $40 per ton, effective immediately.
Nucor had previously announced flat rolled increases of $40 on Oct. 25, $40 on Nov. 7, $30 on Nov. 25 and $40 on Dec. 16, which were matched by most mills.
To date, by Steel Market Update estimates, flat rolled steelmakers have managed to collect roughly $120 of the $190 in increases. SMU’s latest market survey puts the benchmark price for hot rolled steel at $590 per ton, up from $470 per ton in late October.
{loadposition reserved_message}
Tim Triplett
Read more from Tim TriplettLatest in Steel Products
Final Thoughts
Yesterday’s tragedy and loss of life at U.S. Steel’s Clairton Works is a stark reminder of how important safety in the workplace really is.
Discontentment brews in plate market with flat, status-quo pricing
Sources in the carbon and alloy steel plate market said they are less discouraged by market uncertainty resulting from tariffs or foreign relations, but are instead, eager to see disruption to the flat pricing environment.
Drilling activity slows in US but picks up steam in Canada
Oil and gas drilling in the US slowed for a third consecutive week, while activity in Canada hovered just shy of the 19-week high reached two weeks prior.
Domestic mill shipments rise in June: AISI
US steel shipments increased month over month and year over year in June, according to the latest figures from the American Iron and Steel Institute (AISI).
Active rig counts slipped in US, Canada
Drilling activity slowed in the US and Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.