Nucor, US Steel increase steel sheet prices

Spanish Market: Metals
27/02/20

US steelmakers Nucor and US Steel today raised prices for steel sheet products by $40/st after recent weeks of declining spot prices.

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.

Nucor last raised prices in early January, but spot prices did not respond.

The Argus 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.

The price increases come ahead of the March US ferrous scrap trade in which market participants expect scrap prices to rise by $10-20/gt.

By Will Ehrhardt

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