USX-U.S. Steel, Nucor Raising Prices

USX-U.S. Steel, the No. 1 U.S. steelmaker, and Nucor Corp. said they have raised prices for some types of steel by as much as $40 a ton, citing a boost in U.S. demand and a decline in competition from imports. Steel prices have been at a 20-year low, and the steel industry is trying to lift prices off that low, USX spokesman Mike Dixon said. The Pittsburgh-based company said it will increase its prices for hot-rolled steel by 20% to $40 a ton effective March 1, and will boost prices for cold-rolled and coated steel by $30 a ton March 1. Charlotte, N.C.-based Nucor said it will raise prices for hot-rolled steel by $20 a ton effective April 1 and boost production because of a drop from imports. Shares of USX rose 89 cents to $15.25 and Nucor rose $2.18 to $44.44, both on the NYSE.