Steel Products Prices North America
Nucor Tubulars Raises Prices by Another $100 Per Ton
Written by Tim Triplett
November 21, 2020
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.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America
Cliffs moves sheet prices higher, seeks $1,100/ton HRC
Cleveland-Cliffs is now targeting base prices of $1,100 per ton ($55 per cwt) for hot-rolled coil (HRC).
SMU price ranges: Sheet surge continues on limited spot availability
Sheet prices shot higher again this week on the heels of another round of mill price increases as well as on reports of production and supply chain issues at certain domestic producers.
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.