Steel Products Prices North America
Nucor Aims to Increase Sheet Prices by $50 per Ton
Written by Michael Cowden
January 9, 2023
Nucor plans to increase base prices for all new orders of steel sheet by $50 per ton ($2.50 per cwt).
The price hike is effective immediately, the Charlotte, N.C.-based steelmaker said in a letter to customers on Monday, Jan. 9.
“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 the letter.
Nucor’s move comes after Cleveland-Cliffs Inc. announced a price hike of the same amount in mid-December.
NLMK USA and ArcelorMittal followed that increase. Other major steelmakers, notably Nucor and US Steel, did not. (Note: Steel Dynamics Inc. does not typically announce price increases.)
But some market participants had expected another round of mill price-increase announcements linked to higher January scrap costs.
SMU’s hot-rolled coil price currently stands at $695 per ton ($34.75 per cwt), up 13% ($80 per ton) from a 2022 low $615 per ton recorded before Thanksgiving.
Mills began announcing sheet price increases the following week, and prices have been on an upswing since then.
By Michael Cowden, Michael@SteelMarketUpdate.com

Michael Cowden
Read more from Michael CowdenLatest in Steel Products Prices North America

Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.

SMU Price Ranges: Some predict bottom is near as big discounts dry up
Sheet prices were mixed this week as some mills continued to offer significant discounts to larger buyers while others have shifted toward being more disciplined, market participants said.

SMU Price Ranges: Tags mixed as uncertainty weighs on market
SMU’s hot-rolled (HR) coil price held steady this week while prices for other sheet and plate products declined.

Nucor spot HR list price unchanged at $875/ton
Nucor kept its weekly list price for hot-rolled (HR) coil unchanged this week, following a price bump of $10 per short ton (st) last week.

SMU price ranges: Flat-rolled balloon continues to leak
Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.