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 TriplettRead more from Tim Triplett
Latest in Steel Products Prices North America
Galvanized Sheet’s Premium Over Hot Rolled Hovering Around $200/Ton
The spread between hot-rolled coil (HRC) and galvanized sheet base prices has been hovering near $200 per net ton since late July, according to SMU’s latest analysis.
Plate Report: Quiet Turning to Sluggish?
The US plate market has been rather quiet over the past couple of weeks since Nucor Corp. caught many off guard with a $140-per-ton price cut.
SSAB’s Jeff Moskaluk on Wind’s Flurry of Opportunity for Steel
SMU discussed wind energy, a promising end-use market for steel, with SSAB Americas’ SVP and CCO Jeff Moskaluk.
SMU Survey: Mills Less Willing To Talk Price on Sheet, Plate More So
Steel buyers said mills are less willing to budge on spot pricing for sheet products, but plate bucked this trend, according to SMU’s most recent survey data.
AM/NS Calvert, Stelco Follow Major Sheet Mills Higher
ArcelorMittal and Stelco joined last week’s move by domestic mills to push sheet prices higher.