ArcelorMittal USA informed customers today that it has raised the spot base price of all carbon, HSLA, alloy, heat treated, and specialty plate products by a minimum of $40 per ton. The increase takes effect immediately.
This is the latest change to steel plate prices in the past month. SSAB raised its prices by $40 per ton on May 18 and Nucor raised its prices by $50 on May 20.
Steel Market Update’s canvass of the market this week put the current average price for plate at $610 per ton. Plate prices began the year at $710 per ton, but steadily declined to a low of $590 in mid-May, recovering by roughly $20 since the announcements by SSAB and Nucor. Steelmakers have announced increases in both plate and flat rolled prices in the past few weeks in the hopes of capitalizing on rising demand as coronavirus restrictions ease and the economy improves.
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