[ferro-alloys.com]Nucor and US Steel informed customers Monday that the steelmakers intend to separately raise flat-rolled coil prices by a minimum of $40/st, effective immediately.

Nucor's announcement occurred early Monday morning while US Steel waited until near the close of business.

The two increases follow similar moves by West Coast producers early last week. Market participants had been expecting a price increase from Nucor during much of last week, but debated whether an attempt would be successful in bolstering prices.

It is the first increase attempt by producers since October, when multiple mills separately announced $40/st attempts. The hikes were unsuccessful in stopping the decline in prices, with the daily Platts TSI US HRC assessment down $240/st to $680/st on an ex-works Midwest basis, since hitting a peak in July.

(S&P Global Platts)

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