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Nucor (NUE) is following ArcelorMittal (MT)’s recent $20/ton sheet price increase effective immediately, according to trade press.  The difference in these two price increases is that Mittal’s original increase was a “firm” $700/ton so that their $20/ton brings the HRC price to $720. Nucor’s pricing move is an increase of $20/ton but Nucor doesn’t publish a “firm” sheet price.

While there will be a great deal of debate on exactly where HRC prices are today, we would point out two things – first, Nucor has rarely, if ever, announced a sheet price increase that has not mainly stuck. Second, same thing with ArcelorMittal.

Our full report provides further thoughts about domestic and global steel prices as well as the implication for steel equities.

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