Nucor has increased its steel sheet prices by $125/short ton (st).
The price increase brings the electric arc furnace (EAF) steelmaker's total steel sheet price increases since 25 February to $275/st. Nucor's new base price for hot rolled coil (HRC) is now at $1,400/st, market participants said.
No other steelmaker have come out with official price increases in this latest round of increases, but prices in the market are said to be as high as $1,500/st for HRC and $1,800/st for cold rolled coil (CRC) and hot dipped galvanized (HDG) coil products.
The Argus US HRC Midwest ex-works assessment has risen by 27pc since the 1 March to $1,300/st, as increased raw materials costs have allowed mills to set the near-term price floor and push prices higher.
The price for #1 busheling prime scrap in the US increased between $175-190/gross ton (gt) in the March trade that concluded last week. The Argus pig iron cfr New Orleans price rose by $195/metric tonne (t) to $895/t on 10 March.
