Pittsburgh (Platts)--6Dec2012/616 pm EST/2316 GMT
Nucor will increase base prices on all new steel sheet product orders by a minimum of $20/st, effective immediately, the US company said Thursday. "We reserve the right to review and re-quote any offers that are not confirmed with either a Nucor sales acknowledgment or written acceptance by both parties," the Charlotte, North Carolina-based steelmaker said in a letter to customers. There had been chatter in the US market that at least one domestic sheet mill was mulling a price increase this week, aimed at boosting sagging spot prices. Earlier this week, Platts lowered its assessments for hot-rolled coils to $635-645/st, down $5 week on week, and cold-rolled coils to $740-760/st, down $10 week on week. Hot-dipped galvanized also fell to $800-830/st, down from $800-840/st. All prices are ex-works, normalized to a Midwest (Indiana) mill basis. Last week, Platts lowered its domestic spot assessments for HRC and CRC by about $10 from the previous week, after prices had remained relatively static since early November.--Christopher Davis, christopher_davis@platts.com --Edited by Richard Rubin, richard_rubin@platts.com