Electric arc furnace (EAF) steelmaker Nucor has increased flat-rolled steel prices by $100/short ton, less than two weeks after raising prices by $50/st.
No price minimum was given.
Integrated steelmaker Cleveland-Cliffs was reported to be offering hot rolled coil (HRC) at $1,200/st.
The Argus US Midwest HRC ex-works assessment was at $1,022.50/st on 1 March.
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 more than 60pc of US pig iron supply.
Initial mill bids 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.
