On Wednesday morning, West Chester, Ohio-based AK Steel announced that it will increase current spot market base prices for all carbon flat-rolled steel products by a minimum of $2.50 cwt. ($55/mt or $50/nt), effective immediately with new orders.
Similarly, Nucor Sheet Mill Group sent a letter to customers Wednesday saying that effective immediately, it will increase base prices on new orders of hot rolled, cold rolled and Galvanized coil by a minimum of $2.50 cwt. and reserved the right to review and re-quote any offers not confirmed with either a Nucor sales acknowledgement or written acceptance by both parties.
The increases follow a similar $2.50 cwt. price increase from US Steel indicated through an internal company memo late Tuesday.