Just a couple of days after steel company Cleveland-Cliffs raised the price of cold-rolled steel by $100 per ton, setting the HRC minimum price at $1,100 per piece, its direct competitor Nucor raised prices for similar steel products to $1,150 per ton , emphasizing that deliveries of HRC products over 3/4" thick are available on request only.
According to multiple sources, US Steel has increased its minimum price for HRC to $1,100 per tonne. Steelmaker EAF Steel Dynamics (SDI) is also reportedly receiving $1,100/t HRC.
NLMK's Russian subsidiary NLMK USA also raised its spot prices this week to $1,200/t HRC and to $1,300/t HRC. - $1,400 for cold rolled coil (CRC) and hot dip galvanized (HDG) coil.
NLMK USA has a 2 million tonne steel per year rolling plant in Farrell, Pennsylvania, which is heavily dependent on slabs, including imported ones. Slab prices are already reported to be in excess of $800 per tonne, indicating a further rise in NLMK's costs and projected further price increases for finished steel.