NLMK Indiana, NLMK Pennsylvania and Sharon Coating have raised prices on new flat-rolled orders $2.00 cwt. ($44/mt or $40/nt) effective immediately through an internal company memo. The increase is in addition to the previously implemented $3.00 cwt. ($66/mt or $60/nt) increase about two weeks ago.
According to the memo, the second increase is a result of lead times having now extended into October on all products and "strong order intake rates." Additionally, raw material costs remain high while margins are "below acceptable levels."