Steel Products Prices North America
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/4c96032809c10d54e3e216015aecf32a.jpg)
Plate Mills Jockey for Position with Price Announcements
Written by Tim Triplett
August 25, 2020
Many steel buyers have been anticipating a price increase, and the plate mills were the first to make a move. ArcelorMittal USA, Nucor and SSAB all announced changes to their plate prices, but not in the typical lock-step fashion.
Nucor informed customers on Friday that it was setting a minimum base price of $28/cwt ($560 per ton), freight included. “To provide an increased level of clarity and transparency in our plate product pricing, the Nucor Plate Group has initiated a minimum base price that reflects both input costs and market dynamics. This published price will be updated as needed in response to changing market conditions,” the company stated.
Nucor’s minimum applies to discrete/CTL plate, grade A36, up to 2” thick, in widths of 72”, 84”, 96” or 120”, not counting published extras. “Thank you for the trust you have placed in the Nucor Plate Group given the challenges to our economy and our nation during 2020,” the company added.
On Monday, SSAB Americas increased transaction prices by a minimum of $50 per ton effective immediately for all new non-contract orders. This increase applies to As-Rolled Mill Plate, Cut-To-Length Plate >72”, Hot Rolled Coils >72”, as well as Normalized Plate and Quenched & Tempered Plate. All published extras and all regional freight premiums continue to apply.
ArcelorMittal USA increased prices on Monday by a minimum of $40 per ton on all non-contractual carbon, HSLA, alloy, heat-treated and specialty plate products. Published book extras continue to apply for all business, the company said.
Steel Market Update assessed the average price for plate products at $590 per ton last week, meaning Nucor’s $560 per ton minimum is not an increase comparable to its competitors’.
“I see it as a line in the sand statement from Nucor,” said one source. “This is our minimum bottom and we are headed up from here. Don’t ask for anything better.”
Rather than representing a price “increase,” this announcement from Nucor actually represents a “decrease” of $20 per ton, from $580 to $560, for one buyer. “Our view and understanding is this is an attempt by Nucor to establish a “Published Price” for plate, similar to the model they use for MBQ and beams. It’s also, an attempt to establish price leadership ahead of their new capacity additions. SSAB’s move, I think, was a counterpunch to send a message that they are the market leaders when it comes to price.”
SMU’s Price Momentum Indicator is currently at Neutral (and has been for some time) as we wait to see how the market reacts to these differing price announcements.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/tim-triplett.jpeg)
Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Cliffs_logo2.2.png)
Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]