American steel producers are gradually raising prices for rolled products

Two major American steel companies, Nucor and Gerdau Long Steel North America, have announced another increase in rolled steel prices. This is stated in letters to customers.

In particular, Nucor Bar Group is increasing the cost of all types of rebar by $30 per short ton for new orders received after November 7. Confirmed orders placed before the end of that day will remain at the old prices if they are shipped before November 21. The company emphasized that unconfirmed offers may be revised.

Gerdau Long Steel North America has introduced a similar increase, also of $30 per short ton, for orders placed after the end of the working day on November 7. The price protection will apply to confirmed deals if shipment is made before November 23. Gerdau said it will continue to monitor the market situation in order to remain competitive.

According to Kallanish estimates, last week, #4 rebar in 20-foot bars rose in price to $870-910 per short ton on the US market.

At the same time, Nucor raised its weekly spot price (CSP) for hot-rolled coil (HRC) for the third time in a row. As of November 11, the base price is $895/t, and at the California Steel Industries plant, it is $950/t. In previous weeks, the company had already raised prices twice, first by $10 and then by $5/t.

The market range for HRC in the US is currently $825-865 per short ton, and spot order delivery times remain within 3-5 weeks.

It should be recalled that at the end of September and in October, the global hot-rolled coil market showed opposite trends in the main regions.

European prices rose under the influence of expected trade protection measures. The US saw prolonged stability amid weak demand, while China again lowered its prices due to excess inventories and uncertainty about the recovery of the industry.