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

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

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Michael Cowden

Michael Cowden is managing editor for Steel Market Update. Cowden has covered the steel industry since 2007. He has since 2014 specialized in flat-rolled steel but has previously reported on steel long products, steel pipe and tube as well as aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago - where he was involved in launching AMM's daily hot-rolled coil index, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

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