Nucor Tubular Products notified customers on Friday, Dec. 4, that it has increased pricing on all new orders for HSS, pipe, mechanical and piling products by a minimum of $100 per ton as a result of rising raw material costs, strong demand and volatility of transportation costs.
All orders booked prior to this announcement are price protected for shipments through Dec. 31. All open orders effective Jan. 1 will be price in effect at time of shipment. New orders, quotes and contracts not previously confirmed by Nucor will be subject to the increase, the company said.
This represents the third price increase announced by Nucor Tubulars in the past six weeks, following on a $75 per ton increase Nov. 20 and a $50 increase Sept. 25.
The recent hikes in the price of tubular products reflect the sharp increases in the prices of flat rolled steel from which most tubulars are made. Steel Market Update data shows the benchmark price for hot rolled steel has jumped by 60 percent since the beginning of September, from around $500 to the current price of more than $800 per ton.
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