Nucor’s Plate Mill Group informed customers on Friday that it has raised prices for carbon and alloy plate and heat-treated plate by $40 per ton, effective immediately. Nucor’s move follows a similar announcement by ArcelorMittal USA on Thursday.
This is the second round of plate price changes 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.
The current average price for plate is $610 per ton, according to Steel Market Update data. Plate prices have inched up by roughly $20 since hitting a low of $590 per ton in mid-May. Steelmakers have announced increases in both plate and flat rolled prices in the past few weeks in anticipation of rising demand as the economy improves.
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