<article><p class="lead">US steelmakers Nucor and US Steel today raised prices for steel sheet products by $40/st after recent weeks of declining spot prices. </p><p>Both companies increased prices on hot-rolled coil (HRC) and cold-rolled coil products. US Steel also raised prices on its coated sheet products, while Nucor had an additional increase on galvanized products.</p><p>Nucor last raised prices in <a href="https://metals.argusmedia.com/newsandanalysis/article/2047434?keywords=us%20steel">early January</a>, but spot prices did not respond. </p><p>The<i> Argus</i> weekly domestic US HRC index for the week ending 25 February fell by $7.75/st to $587/st ex-works Midwest, down by $33/st from mid-January.</p><p>The price increases come ahead of the March US ferrous scrap trade in which <a href="https://direct.argusmedia.com/NewsAndAnalysis/Article/2079313">market participants expect scrap prices to rise by $10-20/gt</a>.</p><p class="bylines">By Will Ehrhardt</p></article>
