Steel Prices
Nucor increases galv coating extras effective July 6
Written by David Schollaert & Michael Cowden
June 3, 2024
Nucor will increase galvanized and galvannealed coating extras effective July 6, 2024.
The Charlotte, N.C.-based steelmaker on Monday officially rolled out new, higher extras. In other words, the company moved from “Schedule D” to “Schedule E” extras.
Market participants had been expecting the move after Big River Steel (BRS), a subsidiary of Pittsburgh-based U.S. Steel, announced higher extras in May. The new BRS extras are also effective July 6.
“Consistent with our practice to monitor the cost of zinc, we have revised our galvanized coating weight extras effective with orders acknowledged for the week ending July 6,” Nucor said in a letter to customers on Monday.
The new extras can be found on www.nucornow.com/announcements. The increase means the price for a galvanized 0.06” G90 coating will increase from $80 per short ton (st), or $4 per hundredweight (cwt), to $90/st, or $4.50/cwt.
Zinc prices are the primary driver of changes in coating extras. After ten months of relative stability, zinc spot prices have increased in recent months.
David Schollaert
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Michael Cowden
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