Steel Products Prices North America
Nucor Increases Plate Price Another $50
Written by Tim Triplett
January 7, 2018
The Nucor Plate Group has increased transaction prices on all new orders for carbon, alloy and heat-treated plate by $50 per ton, effective immediately on any new or unconfirmed orders.
Nucor’s Jan. 5 price hike follows on a $50 per ton increase announced Dec. 6 and a $40 per ton increase announced Nov. 15 on the company’s plate products.
In their fourth-quarter earnings guidance in mid-December, Nucor executives said margin pressure as a result of imports earlier in the year, and weakness in plate steel, caused the company to lower its fourth-quarter earnings estimate, though they are encouraged by the market’s positive momentum heading into 2018.
To Steel Market Update’s knowledge, no other plate mills have yet followed Nucor’s lead, but other announcements are likely this week.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America
SMU Price Ranges: Sheet and plate steady ahead of Independence Day
Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.
Nucor maintains plate prices, opens August order book
Nucor aims to keep plate prices flat again with the opening of its August order book.
Nucor CSP remains level at $900/ton
Nucor maintained its weekly list price for hot-rolled (HR) coil this week, following two consecutive increases.
Cliffs raises prices, seeks $950/ton for July spot HR
Cleveland-Cliffs plans to increase prices for hot-rolled (HR) coil to $950 per short ton (st) with the opening of its July spot order book. The Cleveland-based steelmaker said the price hike was effective immediately in a letter to customers dated Monday.
HRC vs. prime scrap spread widens in June
The price spread between HRC and prime scrap widened in June.