Nucor Raises Steel Wire Mesh Prices

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Nucor has raised prices for all its mesh products $20/ton, the company said in a letter to customers. The price increase will be effective with August 4 shipments, the Monday letter said.

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Nucor last increased prices $30/ton for mesh products in May for June shipments.

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.29) and a low price of CNY 830.00 ($133.68) per dry metric ton. The price of Chinese HRC remained essentially flat at CNY 3,380 ($544.38) per metric ton. The price of Chinese coking coal continues hovering around CNY 1,390 ($223.87) per metric ton for the fifth day in a row.

The steel billet cash price saw little movement yesterday on the LME, closing out around $420.00 per metric ton. The 3-month price of steel billet remained essentially flat on the LME at $425.00 per metric ton.

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The US HRC futures contract 3-month price saw little price change yesterday at $642.00 per short ton. The US HRC futures contract spot price saw essentially no change for the fifth day in a row, remaining around $670.00 per short ton.

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