Steel Mills
Nucor Quoting $40/t Higher on Limited Spot Tons: Sources
Written by Michael Cowden
February 17, 2021
Nucor has increased spot flat-rolled steel prices for some buyers by $40 per ton ($2/cwt), according to market participants.
The electric-arc furnace (EAF) steelmaker is quoting certain customers $1,240 per ton for April hot-rolled coil, up from $1,200 previously, sources said.
What’s less clear is how many spot tons are available for purchase.
Spot tonnage, which was already scarce, could become even more limited because severe winter weather has disrupted transportation and perhaps production at several southern mills, sources said.
Higher offers from Nucor come as California Steel Industries (CSI) on the West Coast and AM/NS Calvert in Alabama have also quietly lifted tags for flat-rolled products.
Steel Market Update’s price range for hot-rolled coil is $1,150-$1,250 per ton–with an average of $1,200 per ton–FOB mill, east of the Rockies.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
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