Steel Prices
Nucor increases sheet prices, seeks $1,100/ton HRC
Written by Michael Cowden
November 27, 2023
Nucor aims to increase base prices on all new sheet orders, effective immediately.
The Charlotte, N.C.-based steelmaker is seeking at least $1,100 per ton ($55 per cwt) for hot-rolled coil (HRC), according to a Monday letter to customers.
That is up $150 per ton from the $950 per ton the company announced on Nov. 8, per SMU’s price increase calculator.
Nucor said it was also targeting at least $1,300 per ton for heavy-gauge hot-rolled products (>0.75 inches thick). That’s up $150 per ton from its previous target price.
Michael Cowden
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Genuine demand, they stated, will return when the market feels stable again.