Nucor said increasing sheet prices another $30 per ton

Dec 15, 2010 | 01:59 PM |

In what some market players are calling an unprecedented move, one North American steelmaker is again attempting to increase spot market prices—the fourth such move in as many weeks.

Nucor Corp., Charlotte, N.C., told customers by letter Wednesday that volatility in scrap pricing was leading it to increase prices on hot-rolled, cold-rolled and hot-dip galvanized sheet products by $30 per ton effective immediately.

One market source told AMM that the move came in two stages within hours. The first lifted prices by $20 per ton, and then another $10 was added. "Twice in one day," he said. "How about that? Unbelievable."

The move came about a week after Nucor led the last round of sheet price hikes with a $40-per-ton increase (AMM, Dec. 6).....

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