Prices
July 16, 2020
Written by Brett Linton
Recently released license data shows June steel imports at 2.01 million net tons, up 12 percent from May, according to the U.S. Department of Commerce.
Finished steel imports in June are currently at 1.47 million tons, down 3 percent from the previous month. Imports of semifinished products (mostly slabs) are at 540,000 tons for June, up from 300,000 tons the month prior.
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.