Nucor-Yamato Steel (a division of Nucor Corporation and a joint venture with Yamato Kogyo) and Gerdau Long Steel North America have raised prices for C12 and C15 beams by $90 per short ton, according to Kallanish.
Nearly two months ago, both companies had already raised their prices by $40 per short ton for a number of products, including standard beams.
The latest price increase takes effect for new orders received on or after May 26. Nucor-Yamato and Gerdau are guaranteeing the price for confirmed orders placed by the end of the business day on May 22, provided shipment occurs by June 12.
In addition, Nucor has again raised its spot price (CSP) for hot-rolled coil—by $5 per short ton compared to the previous week, as stated in a May 26 letter to customers. Thus, the new offer stands at $1,095/short ton. The CSP for the California Steel Industries (CSI) joint venture also increased by $5 per short ton to $1,145/short ton. Delivery times remain unchanged at 3 to 5 weeks.
According to SMU estimates, prices for hot-rolled coil in the U.S. currently range from $1,070 to $1,110 per short ton, with the average price as of May 19 standing at $1,090/ton.
As a reminder, in early May, Nucor, Gerdau, and Optimus raised rebar prices in the United States. Steel mills raised their prices amid market activity and adjustments to delivery terms. Prior to this, Commercial Metals Company had taken a similar step.
Courtesy: https://gmk.center/en
