Steel Mills
NLMK USA Announces $75/ton Sheet Price Hike
Written by David Schollaert
August 26, 2022
NLMK USA is seeking to increase spot base prices for carbon steel sheet by at least $75 per ton ($3.75 per cwt).
The price increase is effective immediately and applies equally to all new orders of hot-rolled, cold-rolled, and coated products in North America, the company said in a letter to its customers on Friday, Aug. 26.
The announcement by the flat-rolled steelmaker replicates a similar increase from other domestic competitors this month and is due to growing order placements and widening lead times, the letter said.
Orders received and not yet confirmed are subject to the increase as well.
Nucor Corp. announced a price hike of $50 per ton in early August, while Cleveland-Cliffs Inc. did the same earlier this week, raising its spot price by $75 per ton.
SMU’s hot-rolled coil price stands at $770 per ton, down $30 per ton from last week and marking the lowest price for HRC since late November 2020.
By David Schollaert, David@SteelMarketUpdate.com
David Schollaert
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