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.
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.
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.