Sunday, 13 Feb 2011
It is reported that Nucor Corporation has raised prices for some of its products amid demand gains and increasing raw material costs.
Charlotte North Carolina based Nucor boosted prices for plate steel for March delivery by a minimum of USD 80 a tonne.
Nucor said that plate steel sold by contract was increased by USD 65 a tonne. AK Steel Holding Corporation, the fourth biggest US based steelmaker by 2010 sales, said it is raising prices for new orders of flat rolled carbon steel products by USD 50 a tonne.
Mr Patrick McFadden a Nucor spokesman said that Nucor sees rising raw materials and incremental demand. He added that "Some level of demand occurred to allow for the increases to be implemented."
US steelmakers have raised prices and brought more production back on line as they recovered from the plunge in demand following the 2008-09 recession.
(sourced:bloomberg)
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