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    New steel trade group launches with focus on trade policy and action

    Written by Laura Miller


    A new trade association has been launched dedicated to steel trade law enforcement, policy advocacy, trade action, and education.

    The Council on American Steel Trade (CAST) introduces itself as “pro-USA steel manufacturing and is led by trade experts representing every level of the American steel supply chain – from iron ore mining and integrated and mini-mills to processors, downstream steel-derivative producers, and the hardworking men and women of America’s steel workforce.”

    Laura Miller

    Read more from Laura Miller

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    Nucor Plate Group doubles fuel surcharge to $40/ton for November

    Nucor Plate Group said it will increase its fuel surcharge to $40 per short ton (st) next month, effective for all shipments beginning Nov. 1. The Charlotte, N.C.-based steelmaker first said in April that the fuel surcharge was necessary to address rising costs, initially setting the surcharge at $10/st on April 16. The company had previously maintained the $10/st surcharge rate for four straight months through Aug. 17. But it has since doubled its rate in back-to-back months—increasing its surcharge to $20/st in September, followed by its Oct. 15 notice to $40/st. “We remain committed to providing reliable service and transparency as we adapt to changing market dynamics,” Nucor said in a letter to customers on Thursday evening. Nucor announces the surcharge amount on or about the 15th of each month for shipments beginning the following month.

    Hertha Metals breaks ground on Texas iron plant, eyes 500,000-ton steel mill

    Hertha Metals has broken ground on its first commercial plant, a $100 million project that the startup says will demonstrate its process at scale and lay the groundwork for a 500,000-metric-ton-per-year steel mill. The company celebrated the groundbreaking of the Hertha Chalyx project on Friday, Oct. 9, in Conroe, Texas. The plant is designed to produce ~10,000 metric tons of steel-grade and magnet-grade high-purity iron each year. It will run on domestic iron ore, primarily from Minnesota’s Iron Range, and natural gas from Texas.

    Nucor increases spot HR to $1,240/ton

    Nucor said on Monday, Oct. 12, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,240 per short ton (st) this week, a $10/st increase from a week earlier. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,305/st, up $15/st from the prior week. Nucor is still offering lead times of three to five weeks, according to the letter to customers. You can track mill price announcements on our website. Steel Market Update (SMU) published a weekly price assessment on Tuesday, Oct. 6, showing HR coil prices averaging $1,270/st, up $10/st from the previous week. We will update our prices on the evening of Tuesday, Oct. 13.