Steel Products
Nucor Hikes Sheet Prices, Seeks $800/ton HR Base
Written by Michael Cowden
October 19, 2023
Nucor Corp. aims to raise base prices for hot-rolled coil to a minimum of $800 per ton ($40 per cwt).
The Charlotte, N.C.-based electric-arc furnace (EAF) steelmaker said it would also seek at least $1,000 per ton for heavy-gauge hot-rolled products.
The company said the price increase was effective immediately in a letter to customers dated Thursday, Oct. 19.
Nucor did not specify the amount of the price hike. It does, however, represent a $50-per-ton increase over the $750 per ton HR that Cleveland-Cliffs announced as a target base price for HR last month.
SMU’s average hot-rolled coil price stands at $725 per ton, up $80 per ton from a 2023 low of $645 per ton recorded in late September.
Michael Cowden
Read more from Michael CowdenLatest in Steel Products
SMU Community Chat replay now available
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]
SSAB announces $74M expansion in Alabama
The project will expand heat treat capacity at its Axis, Alabama plant
Service centers: Mill orders retreat in March
SMU’s Mill Order Index declined in March after repeated gains at the start of the year, according to our latest service center inventories data.
Nucor maintains plate prices
Nucor aims to keep plate prices flat with the opening of its June order book.
US rig count up, Canada declines
Oil and gas drilling activity was mixed this week, according to Baker Hughes. US rig counts expanded for a second straight week, while Canadian activity continued its seasonal slowdown of eight consecutive weeks.