<article><p class="lead">US electric-arc furnace (EAF) steelmaker Nucor today announced a price increase of $40/st for flat-rolled products.</p><p>The steelmaker, the largest in the US, announced price increases across hot-rolled coil (HRC), cold-rolled coil (CRC) and hot-dipped galvanized (HDG) products.</p><p>Nucor made the announcement just a week after integrated steelmaker US Steel said it was <a target="_blank" href="https://metals.argusmedia.com/newsandanalysis/article/1924017">idling a pair of US blast furnaces</a>, taking offline 200,000-225,000 st/month of steelmaking capacity amid low steel prices.</p><p>US steelmaker NLMK also posted fresh base prices of $560/st for HRC products, and $700/st for CRC and HDG. </p><p>USS-POSCO Industries (UPI), a joint venture between US Steel and South Korea's POSCO, also announced a price increase of $40/st for HRC pickled and oiled, CRC and HDG products at its finishing mill in northern California.</p><p>The formal price increases come as HRC prices dropped for a 12th straight week to $521.75/st as assessed by <i>Argus</i> today.</p><p>Nucor's <a target="_blank" href="https://metals.argusmedia.com/newsandanalysis/article/1851830">last attempt at raising offers</a> in January and February by a total of $80/st failed to support prices as the HRC market ended February at $703/st and has dropped by more than $180/st since.</p></article>
