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

Nucor eyes long-term gains amid strong demand and trade enforcement
Resilient demand across its steel product lines, combined with the continued ramp-up of key expansion projects, drove Nucor’s improved financial results and record-setting performance in the second quarter. That’s according to company executives speaking on an earnings conference call on Tuesday.

Three independent, new directors join USS board
U.S. Steel (USS) appointed three new, independent US members to its board of directors, the company announced.

Nucor reports improved earnings, sales, and operating rates
Nucor reported a sharp sequential rebound in the second quarter, buoyed by improved pricing and strong shipments. But the steelmaker is bracing for a modest slowdown in the months ahead.

Cliffs confirms Cleveland furnace restart, Dearborn furnace idling
Cleveland-Cliffs is idling blast furnace, BOF shop, and continuous caster functions at its Dearborn plant, but downstream operations will remain unaffected, the company confirmed. Cliffs said its pickling line tandeom cold mill (PLTCM) and its extra wide automotive-grade galvanizing line for exposed parts will continue operations at the Dearborn, Michigan-based facility.

Nucor spot HR list price unchanged at $900/ton
Nucor maintained its weekly list price for hot-rolled (HR) coil flat this week, following a price cut the previous week.