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, firstname.lastname@example.org
Laura MillerRead more from Laura Miller
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