Prices
November 20, 2018
Written by Brett Linton
Flat rolled steel prices dropped again this week. One of our domestic steel mill sources told us this afternoon, “Everything is down about a buck from last week.” This source went on to say that the U.S. steel mills are producing more and exporting less. The net result being there is more supply available.
Here is how we see prices this week:
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.
Nucor said its consumer spot price for hot-rolled coil will be $1,220 per short ton (st) for the week of Sept. 28. That's a 10/st increase from a week earlier.
US sheet buyers have grappled with supply scarcity in both the spot and contract markets throughout 2026. Now the supply squeeze is spilling over into 2027, according to market participants.
Recycler forward expectations swung toward oversupply in September as inventory drawdowns eased and export demand lost August’s improving responses.