Steel Products

Nucor Raises Flat Rolled by Another $40 Per Ton

Written by Tim Triplett

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.

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