Market Segment
March 16, 2022
Written by Michael Cowden
Nucor aims to increase base prices for steel sheet by at least $125 per ton ($6.25 per cwt) effective immediately.
“We reserve the right to review and re-quote any offers that are not confirmed with either a Nucor sales acknowledgement or written acceptance by both parties,” the company said in a letter to customers dated Wednesday, March 16.
A one-month extension of the terms of the current four-year contracts between the USW and the two steelmakers (which was initially set to lapse on Sept. 1) expires on Oct. 1.
In 2015, finished steel imports were 29% of apparent domestic consumption of steel, as estimated by AISI. In 2025, the import share had fallen to 18%. Steel lobbyists think that is progress, but the reality is more complex.
US sheet buyers have grappled with supply scarcity in both the spot and contract markets throughout 2026. Now the supply squeeze is spilling over into 2027, according to market participants.
Several steel trade organizations have called on President Trump to resist weakening Section 232 steel tariffs.
The US Commerce Department has raised the anti-dumping duties (AD) on imports of oil country tubular goods (OCTG) from South Korea.