Citing higher raw material prices (especially scrap) and improved demand, US steel producers continued to announce price increases in December. Nucor and Severstal NA lead the charge with matching $50/ton increases on sheet products, and all other mills quickly followed. This is the third published price increase for flat roll since mid November 2011.
Market sources appear to be split on whether additional increases will follow in the coming months with some buyers feeling scrap prices will continue to rise, while other express doubt that overall demand will be sufficient to support more hikes. Regardless of the outcome, we will continue to provide our fabricator partners with the most current market data as it becomes available.
