Nucor Tubular Products today announced it would be implementing a $2.00 cwt. ($44/mt or $40/nt) price increase on all new orders for HSS, pipe, piling and mechanical products, effective immediately. According to the announcement, the increase is a result of raw materials costs and improved business conditions.
Orders prior to the announcement will be price protected for shipments through April 2, 2020.
Prior to today’s announcement, US HSS prices were trending in the range of $45-$46 cwt. ($992-$1,014/mt or $900-$920/nt) ex-mill, although as of last week, sources close to SteelOrbis had said that a growing number of transactions were taking place toward the bottom end of that range.