Steel Products
January 28, 2019
Nucor Announces $40 Increase on Flat Rolled
Written by Tim Triplett
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.
