Prices
December 22, 2020
Written by Brett Linton
On Monday, Dec. 21, Nucor notified customers of an upward revision to their galvanized steel coating extras, effective Feb. 6, 2021.
Nucor is the third mill to revise their galvanized coating extras recently, following NLMK and CSI two weeks ago.
SMU has done an analysis on the old and new extras, provided below. Nucor extras increased between 0 and 25 percent.
Most steel buyers think that steel prices will continue to rise into the 2026. But they don’t see the kinds of big gains that have characterized past market upturns, according to the results of SMU’s latest steel market survey.
Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet and plate products than they were in recent weeks.
In dollar-per-ton terms, US product is on average $141/st less than landed import prices (inclusive of the 50% tariff). That’s down from $148/st last week.
Sheet steel indices increased across the board this week, while plate prices held steady. All five of SMU’s price indices are higher than they were two weeks ago, and all but one are above levels recorded four weeks ago.
Nucor has raised its weekly spot list price on hot-rolled coil by $10 per short ton (st) after keeping it unchanged since Aug. 25.