Newport Steel to buy coils from Nucor
According to recent news in the market, tubular steel products producer NS Group's Newport Steel Corp has signed an agreement with Charlotte-based Nucor Corp to buy steel coils for 2005. The financial terms of the agreement have not been concluded yet, however according to the deal, NS will buy a fixed quantity of steel coils with a fixed base price from Nucor. The agreement includes price adjustments effected in the middle of the year and the raw materials surcharge. With this agreement, NS aims to meet its steel coil requirement for 2005.