Steel Mills

Nucor Increases HSS Prices $50/Ton
Written by Michael Cowden
February 19, 2021
Nucor’s tubular products group has increased prices for hollow structural sections (HSS), pipe, mechanical and piling products by $50 per ton ($2.50/cwt).
The move is effective immediately and is necessary because of “rising raw material costs, strong demand, and volatile transportation costs,” Nucor said in a Feb. 19 letter to customers.
Orders booked prior to the announcement will be protected at the pre-increase price through March 19 shipments, the steelmaker said.
“New orders, quotes and contracts not previously confirmed by Nucor will be subject to this increase,” the company said.
The move comes after several domestic flat-rolled mills increased prices earlier this week. But those increases were largely done in the absence of official price announcement letters on company letterhead.
Steel Market Update does not price tubular products such as HSS. But the price for hot-rolled coil, the substrate used to make welded pipe and tube, is at an all-time high.
SMU’s average hot-rolled coil price stands at $1,200 per ton ($60/cwt), up 11.1% from $1,080 per ton in mid-January and up 172.2% from a 2020 low, recorded in August, of $440 per ton.
By Michael Cowden, Michael@SteelMarketUpdate.com

Michael Cowden
Read more from Michael CowdenLatest in Steel Mills

Op-Ed: Ternium CEO Máximo Vedoya wants a fair future forged in steel
After recently receiving an industry honor on behalf of Ternium, I had the opportunity to reflect and share my vision on the state and future of our industry.

Nippon eyeing new $4B U.S. Steel mill to sweeten deal: Report
Nippon Steel could build a new domestic U.S. Steel mill with a total investment of $4 billion.

Nucor cuts CSP by $20/ton, third straight drop
Nucor has lowered its consumer spot price by $20 per short ton, marking the third consecutive weekly decrease.

Nucor reports IT systems breach
Nucor said it temporarily and proactively halted some production operations at various locations.

Cliffs talks DOE funding, blast furnace relining schedule
The future of two projects supported in part by funding through the Department of Energy remains uncertain.