Steel Products

Nucor Raises Steel Plate Price by $40 a Ton
Written by Tim Triplett
July 28, 2019
Nucor’s Plate Group notified customers on Friday that it is raising the price of carbon and alloy plate and heat-treated plate by a minimum of $40 per ton ($2/cwt), effective immediately on all new spot orders.
“In recent weeks, plate pricing has fallen to unsustainable levels. While end-use demand and project business remains stable, the spot market has continued to deteriorate,” the mill stated in its letter to customers.
Steel Market Update data shows the current average price of steel plate at around $780 per ton, with lead times of two to five weeks, down from more than $1,000 a ton at the beginning of the year.
Nucor, along with most other mills, has raised flat rolled steel prices three times in the past month by a total of $120 per ton, but this announcement by Nucor is the first for plate products in about nine months. According to SMU’s records, the last time Nucor raised the price of plate was Oct. 23, 2018.
{loadposition reserved_message}

Tim Triplett
Read more from Tim TriplettLatest in Steel Products

U.S. Steel to halt slab conversion at Granite City Works
U.S. Steel said it plans to reduce slab consumption at its Granite City Works near St. Louis, a company spokesperson said on Monday. The Pittsburgh-based steelmaker will shift the production and processing of steel slabs to its Mon Valley Works near Pittsburgh and its Gary Works near Chicago. Citing a United Steelworkers (USW) union memo, […]

SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.

HR Futures: Market finds footing on supply-side mechanics
As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.

Beige Book: US markets remain cautious amidst volatile pricing environment
Sluggish economic activity across the US was largely attributed to uncertainty caused by tariff policies and growing cost pressures, according to the US Federal Reserve’s (The Fed) latest Beige Book report. The Fed’s latest economic report, posted on Sept. 3, consists of economic findings from the six weeks preceding Aug. 25 throughout 12 districts. Economic […]

Rig count dips again in both US and Canada
Oil and gas drilling activity waned in the US and Canada this past week. Ticking own for the second straight week in both regions.