Steel Products Prices North America
Nucor Tubular Raises Prices by Another $50 Per Ton
Written by Tim Triplett
October 13, 2020
Nucor Tubular Products notified customers on Friday, Oct. 23, that it is increasing the pricing on all new orders for HSS, pipe, mechanical and piling products by $50 per ton. The steelmaker attributed the increase to rising raw material costs, strong demand and volatility of transportation costs.
All orders booked prior to this announcement will be price protected for shipments through Nov. 13, 2020, Nucor said.
This is the third $50 increase from Nucor on its tubular products since mid-September. Other mills have followed suit.
Prices for flat rolled steel, which is the raw material for welded pipe and tube, continue to rise. Steel Market Update puts the benchmark price for hot rolled this week at $685 per ton, up more than 30 percent from $515 at the beginning of September.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America
Thin demand keeps plate prices hovering at lowest levels since February
Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.
SMU Price Ranges: HR crawls back to $800/ton
SMU’s HR price stands at $800/st on average, up $5/st from last week. The modest gain came as the low end of our range firmed, and despite the high end of our range declining slightly.
SMU successfully completes IOSCO review
SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).
Domestic plate prices could heat up despite so-so demand, market sources say
Some sources also speculated that plate could see further price increases thanks to modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.
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.