Steel Mills
NLMK USA Lifts Sheet $50/ton, Aims for $875/ton HRC
Written by Michael Cowden
February 2, 2023
NLMK USA has joined Cleveland-Cliffs Inc. in raising sheet prices by at least $50 per ton ($2.50 per ton), effective immediately.
The steelmaker is also seeking a base price of $875 per ton for hot-rolled coil, $25 per ton more than the $850 per ton Cleveland-Cliffs is aiming for.
“Orders received and not yet confirmed are subject to this increase,” NLMK USA said in a letter to customers on Thursday, Feb. 2.
Cliffs is one of the largest steelmakers in the US. While NLMK USA is much smaller, it is an important player in the spot market.
NLMK USA operates an electric-arc furnace (EAF) steel mill in Portage, Ind., a hot strip mill and cold-reduction mill in Farrell, Pa., and a galvanizing facility in Sharon, Pa. The Portage mill has a capacity of 800,000 tons per year.
By Michael Cowden, michael@steelmarketupdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Mills
Republican Senators demand Biden block USS sale to Nippon
Three vocal Republican senators are demanding that President Joe Biden block the sale of U.S. Steel to Japan’s Nippon Steel.
Stelco reports solid Q1, plans to up value-added output
Stelco reported a positive start to 2024 in its first-quarter earnings report on Thursday. And with steady demand and a stable market, the Canadian flat-rolled steelmaker is optimistic for the remainder of the year.
AISI: Raw steel production inches higher
US raw steel output ticked up last week, according to the latest American Iron and Steel Institute (AISI) data.
Nucor surprises with $65/ton price drop for HRC
Nucor started off May with a bang, dropping its weekly base spot price for hot-rolled (HR) coil by $65 per short ton (st) this week.
Nucor breaks ground on new Berkeley galv line
Nucor broke ground on a new galvanizing line at its Nucor Steel Berkeley sheet mill in Huger, S.C., on Thursday, May 2.