Steel Mills

Nucor Joins $60/ton Sheet Price Hike Parade
Written by Michael Cowden
December 1, 2022
Nucor Corp. has joined other sheet producers in the US and Canada in a push to raise base prices by at least $60 per ton ($3 per cwt).
The Charlotte, N.C.-based steelmaker said the move was effective immediately for new orders in a letter to customers on Wednesday, Nov. 30.
“We reserve the right to review and re-quote any offers that are not confirmed with either a Nucor sales acknowledgement or written acceptance by both parties,” the company said in the letter.
Nucor’s move follows increases announced by Cleveland-Cliffs and US Steel on Monday. It also lends the heft of North America’s largest EAF producer to a price hike initiated by two companies traditionally seen as integrated mills.
It’s too early to say whether the increases will stick. But they appear to have at least temporarily put a floor under prices following deep discounting for larger buyers ahead of Thanksgiving.
Steel Market Update’s price for hot-rolled coil stands at $625 per ton, up $10 per ton from last week but down $60 per ton from early November.
By Michael Cowden, Michael@SteelMarketUpdate.com

Michael Cowden
Read more from Michael CowdenLatest in Steel Mills

Nucor names Batterbee, Bledsoe to HR roles
Nucor Corp. has promoted Thomas J. Batterbee to the position EVP of human resources and talent and appointed Elizabeth Bledsoe to the newly created position of president of human resources and talent.

Millett sees tariffs, CORE case benefiting SDI
Steel Dynamics' top exec thinks Trump’s tariff policies, as well as the results from the recent CORE case, will prove advantageous to the Fort Wayne, Ind.-based steelmaker and aluminum company.

USW digs in on opposition to USS-Nippon deal
“We remain deeply concerned about the national and economic security implications of the subject transaction,” the union stated in the letter dated April 21.

SDI’s Q1 earnings slump on-year, but up sequentially
SDI earnings slip in first quarter year over year, but are up sequentially.

POSCO inks MoU with Hyundai on Louisiana EAF mill
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.