Steel Products
July 23, 2019
Steel Buyers React to Third Round of Price Increases
Written by John Packard
This week we solicited input from steel buyers (and steel mills) regarding their reaction to the third round of price increases, which was kicked off by ArcelorMittal USA yesterday.
On June 24, Nucor announced the first of the latest round of mill price increases on spot flat rolled steel. Nucor advised that hot rolled, cold rolled and coated products produced by their mills would go up by $40 per ton ($2.00/cwt) from their existing transaction levels. The other mills followed suit except for NLMK USA, which decided to spell out specific base price levels of $560 per ton ($28.00/cwt) on hot rolled and $700 per ton ($35.00/cwt) on cold rolled and coated steels.
