(Bloomberg) — Nucor Corp., the largest U.S. steelmaker, raised prices for a fifth time since late October, adding to signs of a rebound in the industry.Prices for new orders of hot-rolled, cold-rolled and galvanized sheet will increase by $40 a short ton effective immediately, the company said in a letter to clients Wednesday. The Charlotte, North Carolina-based steelmaker didn’t immediately respond to an email seeking comment. The metal is used in construction. U.S. Midwest domestic hot-rolled coil steel index futures have rebounded 19% from a three-year low in November amid a strengthening U.S. housing market. Declining mortgage rates are making homes more affordable, boosting demand for steel, Commercial Metals Co. Chief Executive Office Barbara Smith said in an interview Monday.To contact the reporter on this story: Yvonne Yue Li in New York at [email protected] contact the editors responsible for this story: Luzi Ann Javier at [email protected], Joe RichterFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
