<article><p class="lead">Electric arc furnace (EAF) steelmaker Nucor has increased flat-rolled steel prices by $100/short ton, less than two weeks after <a target="_blank" href="https://www.argusmedia.com/metals-platform/newsandanalysis/article/2306099-Nucor-increases-prices-by--50-st">raising prices by $50/st</a>. </p><p>No price minimum was given.</p><p>Integrated steelmaker Cleveland-Cliffs was reported to be offering hot rolled coil (HRC) at $1,200/st. </p><p>The <i>Argus</i> US Midwest HRC ex-works assessment was at $1,022.50/st on 1 March.</p><p>Flat-rolled steel prices have been expected to increase as US steelmakers, particularly scrap-based EAF mills, struggle with soaring raw material costs, with the Russia-Ukraine conflict cutting off <a target="_blank" href="https://www.argusmedia.com/metals-platform/newsandanalysis/article/2307596-US-pig-iron-prices-in-flux-amid-Ukraine-crisis">more than 60pc of US pig iron supply</a>.</p><p><a target="_blank" href="https://metals.argusmedia.com/newsandanalysis/article/2309219">Initial mill bids</a> in the US scrap market for March were up $125/gross ton from February levels, but met with minimal interest from sellers given even larger increases in bulk export pricing.</p><p class="bylines">By Rye Druzin</p></article>
