Another round of flat-rolled steel price increases Tuesday, announced by Nucor and NLMK, have buyers expecting others to follow.
The price-hike attempts come on the heels of increases in December.
Nucor Tuesday said it would be increase hot-rolled coil prices by $20/st, while cold-rolled and galvanized coil price would be up $30/st, effective immediately. In addition, NLMK announced it would be increasing prices by $30/st citing strength in its sales markets and extending lead times.
"I am hearing lead times are getting stronger," a buy-side source said citing jumps in certain areas for one major integrated mill, while other integrated mills are also improving. However, at least one mini-mill still remains short, he noted, adding he was "not sure the current environment is built to last."
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