US mills increase prices

US mills increase prices

Supported with the rising demand, major US minimill operator and recycler Nucor Corp. announced that it raised prices of its steel sheet products by $40/mt, bringing the unit price of hot rolled steel sheet to $380/mt, effective immediately. The price rise will apply to all unconfirmed orders however contractual business will not be affected. Similarly, Weirton Steel also announced recently a price rise of $25/mt to be effective as from December 15 2003 until the end of January 2004. The price rises allow the companies to reflect the rising scrap and electric costs to their customers. Officials comment that the growing demand and positive signs of economic recovery in the US is encouraging the steelmakers to affect such price rises, trusting that the customers will eventually have to accept the new higher levels.