Prices
June 25, 2019
Written by Brett Linton
Flat rolled and plate steel prices tumbled again this week. The question now: Is this the last drop we will see as the domestic steel mills have stepped forward and announced price increases to the tune of $40 per ton?
Base prices for benchmark hot rolled were beginning to pass through the psychological $500 per ton barrier as our range this week is $490 to $550 per ton on HRC.
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.