Steel Mills
Nucor Increases HSS Prices $50/Ton
Written by Michael Cowden
February 19, 2021
Nucor’s tubular products group has increased prices for hollow structural sections (HSS), pipe, mechanical and piling products by $50 per ton ($2.50/cwt).
The move is effective immediately and is necessary because of “rising raw material costs, strong demand, and volatile transportation costs,” Nucor said in a Feb. 19 letter to customers.
Orders booked prior to the announcement will be protected at the pre-increase price through March 19 shipments, the steelmaker said.
“New orders, quotes and contracts not previously confirmed by Nucor will be subject to this increase,” the company said.
The move comes after several domestic flat-rolled mills increased prices earlier this week. But those increases were largely done in the absence of official price announcement letters on company letterhead.
Steel Market Update does not price tubular products such as HSS. But the price for hot-rolled coil, the substrate used to make welded pipe and tube, is at an all-time high.
SMU’s average hot-rolled coil price stands at $1,200 per ton ($60/cwt), up 11.1% from $1,080 per ton in mid-January and up 172.2% from a 2020 low, recorded in August, of $440 per ton.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
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