Big news in the steel industry today! Nucor, one of the biggest steelmakers in the US, has just announced its third price increase in just three weeks.
The company has raised its prices by $100 per short ton, bringing the minimum target price for hot rolled coil products to $1,000 per ton.
This comes after a series of price increases by US steelmakers over the last few months.
This latest hike would bring the HRC market to the $1,000 per ton mark for the first time since June of last year.
It’s a significant increase, and it remains to be seen whether other steelmakers will follow suit.
Stay tuned for more updates on this developing story!