Prices
October 15, 2013
Written by John Packard
There was little to no change with most of the indices this past week. What might have been the most noteworthy is Steel Orbis is no longer the lowest priced on benchmark hot rolled. Also of note is Platts is no longer the highest priced index for HRC. Will this be the week when prices breakout of their narrow range?
This Premium analysis examines oil and natural gas prices, drill rig activity, crude oil stock levels, and fuel prices through May.
Domestic plate market participants named extended lead times, increased freight costs, escalating fuel surcharges, and spotty demand as their most recent challenges.
After a brief dip last month, iron ore prices have resumed their upward trajectory as the war in the Middle East escalates. Elevated costs have established a new pricing norm, keeping iron ore prices firm even as current levels exceed what supply‑demand balance would justify. Meanwhile, Simandou is finally gaining momentum after a slow start. Quality remains the decisive factor for steelmakers sourcing from the seaborne market, reshaping trade flows.
Sheet prices continue to rise in a market that remains characterized by extremely limited spot availability, solid demand, long lead times, and the lowest sheet inventories since May 2021.
Nucor Plate Group will maintain its previously announced fuel surcharge of $10 per short ton for next month, effective on all shipments beginning June 1.