Steel Products Prices North America
Nucor Announces $40 Increase on Flat Rolled
Written by Tim Triplett
January 28, 2019
Following on last week’s announcement by West Coast mills, Nucor’s Sheet Mill Group today also announced a $40 per ton ($2/cwt) increase on hot rolled, cold rolled and galvanized steel products, effective immediately on new and unconfirmed orders.
The price hike comes as no surprise as Nucor and other mills east of the Rockies were widely expected to raise prices soon in an effort to stop the slide steel has experienced since last summer. Nucor’s last announcement on flat rolled was a $40 increase on Oct. 10. Since then, prices have continued to decline. Steel Market Update data places the current price for hot rolled at around $685 per ton, down from a peak of over $900 in July 2018.
Nucor has routinely raised its price each January since at least 2016 as part of its marketing plan. Unlike in other years when the market was on the upswing, growth in steel demand is less certain entering 2019, casting doubt on the ability of Nucor and other mills to collect their increases.
California Steel Industries (CSI) and USS-POSCO Industries (UPI) were the first to announce flat rolled price increases of $40 per ton last Monday, Jan. 21.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America
SMU Community Chat: Timna Tanners on ‘Trumplications’ for steel in 2025
Wolfe Research's Managing Director Timna Tanners discusses the 'Trumplications' for steel in the coming year in this week's SMU Community Chat.
Nucor raises hot rolled spot price to $750/ton
Nucor raised its weekly consumer spot price (CSP) for HRC this week to $750/short ton.
SMU price ranges: Most sheet and plate products drift lower
Steel sheet prices mostly edged lower for a second week, while plate prices slipped for the third consecutive week.
Nucor drops HRC price to $720/ton
After holding its weekly spot price for hot-rolled (HR) coil steady for three weeks at $730 per short ton (st), Nucor lowered the price this week by $10/st.
SMU price ranges: Sheet slips, plate falls to 45-month low
Steel sheet and plate prices moved lower this week as efforts among some mills to hold the line on tags ran up against continued concerns about demand.