Nucor Boosts Steel Prices, Trims Surcharge

Jason Sandefur

Nucor Corp. announced a $20 per ton price hike for flat-rolled products sold on the spot market\, Dow Jones Newswires reported. The increase applies to orders shipped in July and indicates demand remains healthy, the Charlotte-based steelmaker said.
Nucor also announced it will lower its raw materials surcharge by $25 a ton on sheet steel products starting June 1. The surcharge will decrease to $70 a ton amid scrap cost declines. Nucor does not generally disclose base prices, but the company has said the average price of sheet steel was $440 a ton in the first quarter of 2004. The average cost for scrap steel and scrap substitutes was $200 a ton in Q1.
Nucor”s price increase is the second hike announced by a U.S. steelmaker this week. AK Steel (AKS) said it will raise prices on carbon hot-rolled, cold-rolled and coated-steel products by $50 a ton starting June 1. �2004 FastenerNews.com