Prices
January 14, 2020
Written by Erik Hedborg
By CRU Senior Analyst Erik Hedborg, from the CRU Steelmaking Raw Materials Monitor
In the past week, iron ore prices have remained at a high level as restocking in China has continued and there are increasing fears of Australian supply disruptions caused by Cyclone Claudia that passed north of the major iron ore ports in Western Australia.
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.