US steel companies announce the fifth price increase
 
 
Recently, Nucor Corp., the largest U.S. steel producer, announced another price hike, the fifth since late October. On the same day, ArcelorMittal USA, the world's largest steel producer, and nlmk USA, a Russian steel company, also announced price raising policies.
 
In a letter to customers on Wednesday, Nucor said that all new orders for hot, cold and galvanized steel plates would be increased by at least $40 / short ton, with the new price taking effect immediately. American companies of ArcelorMittal and nlmk also announced the same price increase measures for the same product line. NLMK told customers the price increase was "due to extended delivery times and strong order demand.".
 
Due to the improvement of economic sentiment and the strength of the US real estate market, the domestic hot rolled coil index futures prices in the central and western regions of the United States have rebounded 19% from the lowest point in nearly three years in November last year.
Luxembourg based ArcelorMittal told customers on Wednesday that prices for all flat products will rise by at least $40 per (short) ton, with the new prices taking effect immediately.
Nlmk also said that the price of new orders for all spot products would be increased by at least $40 / (short) ton, with immediate effect.
Some analysts said that the last time steel prices rose so fast was after the US government announced a 25% steel tariff in March 2018, but at that time, no official price adjustment notice was issued by major steel mills.