On Monday, Severstal North American announced that it is raising base prices on all new non-contract orders effective immediately. New minimum published base prices will be:
Hot rolled coil: $33.50 cwt. ($739/mt or $670/nt)
Cold rolled coil: $38.50 cwt. ($849/mt or $770/nt)
Galvanized: $38.50 cwt. ($849/mt or $770/nt)
The above prices reflect an increase of $1.75 cwt. ($39/mt or $35) from Severstal's increase on July 2.
Nucor Sheet Mill Group also sent a letter to customers Monday as well, indicating that prices for hot rolled, cold rolled and galvanized coil will increase by $2.00 cwt. ($44/mt or $40/nt), effective immediately. Nucor also said that "we will continue to monitor market and import prices and respond accordingly as necessary."