Nucor Hikes Prices, Cuts Surcharge
Nucor Hikes Prices, Cuts Surcharge
Jason Sandefur
Nucor will reduce its surcharge on steel products shipped after May 1, CEO Dan DiMicco announced. The Charlotte, NC, steelmaker is cutting its surcharge for sheet products by $30 a ton, or 24%, to $95 a ton. It is reducing the surcharge on bars, plates and beams by $52, or 43%, to $68 a ton. DiMicco said falling scrap steel prices influenced the reduction.
However, New and previously announced increases to bar product prices will more than offset the surcharge reduction.
Nucor had reported that base prices for bar products would increase by $30 a ton in mid-April. Nucor will delay that increase until May, when an additional hike of $25 per ton will go into effect, bringing the net increase for bar products to $55.
Prices for sheet, plate or beams are not scheduled to be raised beyond previously announced increases.
“Demand is currently very strong, and we have not announced any price increases yet,” DiMicco added. “That doesn”t mean we won”t.” \ �2004 FastenerNews.com
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