Nucor’s $40/T sheet hike stirring doubt in industry
Dec 07, 2010 | 01:36 PM
Nucor Corp. is attempting its third carbon steel sheet price hike in about three weeks, sparking questions among industry players about the sustainability of rapidly rising tags.
The steelmaker informed customers late Monday that it was immediately raising transaction prices on flat-rolled products by another $40 per ton, a move that would push hot-rolled sheet to around $680 per ton ($34 per hundredweight).
The announcement came on the heels of similar price increases announced in late November and again last week. The upshot of the latest move is that hot-rolled sheet prices would have gained about $90 per ton, or a little more than 15 percent, from late-November spot market tags of around $590 per ton ($29.50 per cwt).....
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