Steel Products Prices North America
Nucor Announces Second $40 Increase on Plate
Written by Tim Triplett
August 11, 2019
Nucor’s Plate Mill Group informed customers on Friday that it is raising the price of carbon, alloy and heat-treated plate by $40 per ton ($2/cwt), effective immediately on all new and unconfirmed orders.
This is Nucor’s second price hike on plate products in the past two weeks, following on a $40 increase July 26.
Steel Market Update data shows the current average spot price for plate at around $820 per ton, up from about $780 at the time of the first increase. Plate lead times have extended to 4-6 weeks.
The price hikes by Nucor and other mills appear to have reversed the slide in plate steel prices, which had declined from more than $1,000 per ton at the beginning of the year.
Domestic steelmakers also have raised flat rolled steel prices three times since late June by a total of $120 per ton. The market is watching anxiously to see if demand is sufficient to sustain the mills’ increases in the second half.
Tim Triplett
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