Nucor Steel increased flat steel prices by $100 per short tonne. The company's target base price for the hot-rolled coil is $1,000 per ton.
U.S. steel producers have been increasing their prices in parallel with each other over the past three months. Nucor Steel has increased prices by $360 for six price hikes since the end of November.
The latest increase, if accepted by buyers, will cause the market for hot rolled steel to reach $1,000 per ton for the first time since 28th June, 2022.
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