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Article Excerpt
Major carbon and specialty steel and aluminum producers raised prices of increased raw material/scrap surcharges in mid-February, on top of previous increases announced in December and January. Some producers changed their freight rate formulas, too.
Nucor Corp., Charlotte, N.C., and Steel Dynamics Inc., among the highest volume U.S. minimills, raised their raw materials surcharge on flat-rolled steel from $60 per ton in February, to $100 per ton effective with March shipments.
John Ferriola, Nucor executive rice president for sheet products, said the average base price, excluding surcharges, realized by Nucor for spot market sales of hot-rolled steel during the first quarter was about $370 per ton.
Scrap prices surged more than 50 percent in less than a year, primarily on strong demand from China, prompting many U.S. companies to impose the...
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