Adds Nucor price increase

US electric arc-furnace (EAF) steelmaker Nucor and integrated steelmaker ArcelorMittal USA are increasing prices for the third time in the last month, according to multiple market participants.

The US subsidiary of international steelmaker ArcelorMittal led the increase today, raising flat-rolled prices to $630/st for hot-rolled coil (HRC) products and to $800/st for cold-rolled coil (CRC) and coated products.

One source said the company had been asking for $600/st for HRC.

Nucor followed with a $40/st increase on all flat-rolled products. Last week Nucor chief executive John Ferriola said his company had secured the first $40/st increase that was announced in June and that it was too early to tell how much prices would increase from the $40/st announcement from early July.

The announcement is the latest by both companies, which rolled out two $40/st increases in the last month.

Other US mills have pushed for $80/st of price increases during the same time period.

US HRC prices hit a 2019 low of $521.75/st at the end of June. The most recent Argus weekly domestic US HRC assessment was $559.25/st on 16 July.