Nucor suspends October orders

Nucor suspends October orders

Nucor’s sheet mill division announced recently that it is temporarily suspending order acceptance pending determination of October’s surcharge amount. The company states that its order books for September are already full and it has only limited availability for October. Though plenty of scrap is available, the cost of scrap is quickly increasing and it will not know until later this week exactly what the surcharge will be. Speculation is that the surcharge could increase as much as $90 per ton by next week. Nucor made it clear that the decision is a result of its strong October order book and not related to Hurricane Katrina. Nucor is not anticipating any significant disruption to steel production at any of its facilities. The company says once it knows the surcharge amount, it will resume limited order acceptance.