Nucor Sheet Mill Group sent a letter to customers Thursday indicating that new base prices on flat-rolled steel products will increase, effective immediately, as a result of increased order activity.
Hot rolled prices will increase by a minimum of $1.50 cwt. ($33/mt or $30/nt), and cold rolled and Galvanized prices will increase $2.00 cwt. ($44/mt or $40/nt).
Nucor is the latest mill to join in a move to end the rapid domestic spot price softening that occurred in October. As SteelOrbis previously reported, Severstal North America led the pack with an announcement on November 2, and has since been followed by increase announcements from NLMK USA, AK Steel and RG Steel.