In a letter to customers Friday, Nucor Sheet Mill Group announced that it will increase base spot pricing to the following levels:
Hot rolled coil: $30.50 cwt. ($672/mt or $610/nt)
Cold rolled coil: $35.50 cwt. ($783/mt or $710/nt)
Galvanized coil: $35.50 cwt. ($783/mt or $710/nt)
Nucor also said that the company reserves the right to review and re-quote any offers that are not confirmed with either a Nucor sales acknowledgement or written acceptance by both parties.
Nucor's announcement follows a leading move by US Steel on Wednesday raising flat rolled spot prices by $2.50 cwt. ($55/mt or $50/nt). On Thursday, AK Steel also issued a $2.50 cwt. price increase letter, while ArcelorMittal USA, Severstal NA, and NLMK USA instead announced new base prices that are at the same level as the new Nucor prices.