Nucor Steel Berkeley sent a letter to customers on Wednesday stating that in response to a domestic competitor, the mill will reduce the previously announced wide flange beam (WFB) price increase for July 1 by $10/nt ($11/mt or $0.50 cwt.), leaving WFB transaction prices up $20/nt ($22/mt or $1.00 cwt.) from June.
Additionally, Nucor will reduce the July price increase for 8" and 15" structural channel products by $30/nt ($33/mt or $1.50 cwt.), resulting in no change in transaction prices compared to June.
All other sections presented in the price announcement dated June 9 will retain the $30/nt price increase for July shipments.
Although the letter did not mention the competitor Nucor's increase adjustment is responding to, it is most likely Steel Dynamics, Inc., which announced a $20/nt price increase on June 23.
Effective with shipments as of July 1, Nucor's WFB prices will be as follows:
ASTM A992
Specification |
Price ($/cwt.) |
Price ($/mt) |
Price ($/nt) |
W10 x 10 49-112 mm |
$42.00 cwt. |
$926/mt |
$840/nt |
W18 x 6 35-46 mm |
$42.00 cwt. |
$926/mt |
$840/nt |
W24 x 7 55-62 mm |
$42.00 cwt. |
$926/mt |
$840/nt |