Steel Products
October 10, 2018
Written by Tim Triplett
Nucor’s Sheet Mill Group announced a $40 price hike this morning.
In an Oct. 10 letter to customers, Nucor said that base prices on hot rolled, cold rolled and galvanized steel products would all increase by $40 per ton, effective immediately.
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It has been a crazy 2024 so far for hot-rolled coil (HRC) futures!!! “It’s not crazy, it’s hot rolled.” This chart shows the steeply backwardated Midwest HRC futures curve on Jan. 3 plummeting between $186 to $241 in the front three months, evolving into the curve six weeks later on Feb. 12. CME hot-rolled coil […]
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Though steel prices continue to drop, more buyers are holding off on finalizing transactions.