NEW YORK At least two domestic mills have announced price increases for structural steel products, according to letters sent to customers.
Nucor-Yamato Steel Co. will raise net transaction prices for structural products by $35 per ton ($1.75 per hundredweight) effective with shipments Dec. 1, the company said in a letter to customers dated Nov. 9.
A $17-per-ton (85-cents-per-pound) decrease in its published base price partially offset a $52-per-ton ($2.60-per-cwt) boost in the companys raw materials surcharge, the letter said.
The Blytheville, Ark.-based structural steel producers raw materials surcharge is based on AMMs consumer buying price for shredded automotive scrap in the Chicago market, which rose $52 per ton to $387 per ton in November (amm.com, Nov. 7).
Gerdau Long Steel North America followed Nucor-Yamatos apparently leading move Monday, announcing its own beam price increase of $35 per ton.
Tampa, Fla.-based Gerdaus increase is effective immediately on all new orders, although existing orders will be price protected provided they are shipped prior to Dec. 1, the company said in a Nov. 12 letter to customers.