US steel producer Nucor is hiking its base prices for both wire rod and beam products, Kallanish understands.

In a letter to customers dated 10 November, Nucor says it will raise wire rod prices by $40/short ton effective with shipments beginning 1 December.

A second letter dated 14 November announces an immediate increase of $30/st for the company’s wide-flange and standard beam products.

“As always, we will continue to monitor market conditions and respond accordingly in order to assure you of receiving a competitively priced product,” Nucor writes.

Rising raw material prices have been cited by many market observers as the driving force behind recent increases in sheet and other products.