Prices
October 11, 2018
Written by Jack Marshall
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week:
Steel
Sheet and plate prices continued to move higher on market dynamics that have carried headlines for much of the second half of the year: scarce spot tons, long lead times, production delays, lean inventories, and stable demand.
Nucor's consumer spot price for hot-rolled increased by $10/st w/w on Monday, Oct. 5 to $1,230 per short ton.
SSAB Americas aims to increase base plate prices by at least $60 per short ton (st), according to a letter sent to customers on Monday.
Nucor said on Thursday evening it plans to increase plate prices by $60 per short ton (st) as it opens its November order book.
Sheet and plate prices continued to inch higher on a combination of scarce spot tons, long lead times, lean inventories, and stable demand.