Steel Markets
Nucor Raises Tubular Product Prices
Written by Laura Miller
March 21, 2023
Citing rising raw material costs and strong demand, Nucor Tubular Products has announced its fourth price increase so far this year.
The tubular producer said in a March 17 letter to customers that new orders for hollow structural sections (HSS), pipe, mechanical, and piling products will increase by $150 per ton, effective immediately.
Earlier, on March 6, the company announced a $100-per-ton tubular products price increase, and this month’s increases were preceded by another $100-per-ton increase on Feb. 24 and a $50-per-ton increase on Jan. 24.
The increases are in line with the rising cost of hot-rolled coil substrate, which has seen price increases nearly every week so far this year, as SMU has been reporting. This week’s SMU survey puts HRC spot prices at $1,080–1200 per ton, up about $25 per ton from last week.
Nucor Tubular Products operates eight locations in Alabama, Illinois, Kentucky, Georgia, and Indiana.
By Laura Miller, laura@steelmarketupdate.com
Laura Miller
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