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
Buy clean programs need a single carbon emissions standard for steel
The Biden administration’s climate ambitions are laudable. Buy Clean programs have the potential to meaningfully reduce CO2 emissions, supporting the American steel industry and its workers. Buying clean steel In February 2022, the administration launched the federal Buy Clean initiative and established its Buy Clean Task Force. These programs prioritize the use of American-made, low […]
CRU aluminum: A call for import monitoring and sustainable practices
CRU analysts share an update on the aluminm markets.
Rig count inches up in US, slides in Canada
The active rotary rig count for the week ended Dec. 1 inched up in the US but slid in Canada, according to Baker Hughes.
Worthington Steel completes spinoff, now a standalone company
Worthington Industries has completed its split into two separate companies: Worthington Steel Inc. and Worthington Enterprises Inc.
CRU: Baffinland allowed to increase iron ore shipments
The Canadian government has given ArcelorMittal-linked Baffinland Iron Mines permission to dispatch up to 6 million metric tons per year from its Mary River mine in Nunavut territory, higher than the 4.2 million metric tons per year previously permitted. The approval from northern affairs minister Dan Vandal allows Baffinland to make the extra shipments if […]