Prices
February 4, 2022
Written by Greg Wittbecker
By Greg Wittbecker, Advisor, CRU Group
Nucor and Steel Dynamics Inc. (SDI) chose to acquire major metal recycling companies just before the Global Financial Crisis. SDI purchased Omnisource for slightly more than $1 billion in November 2007. Nucor followed suit with its $1.4 billion takeover of The David J. Joseph Co. in March 2008.
Sheet and plate prices continued to tick mostly higher this week amid a supply squeeze that shows no signs of loosening its grip on the US market.
Nucor said on Monday, Sept. 21, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,210 per short ton (st) this week, a $10/st increase from a week earlier.
The domestic plate market is showing few signs of relief for steel buyers. Lead times are stretching well beyond seasonal norms, spot availability has all but evaporated, and mills are drawing hard lines on contract volumes heading into 2027 negotiations. And the supply squeeze will likely intensify in a market that some industry sources say is structurally undersupplied because of stringent US trade and tariff policies. Imports have been arriving in larger volumes, and the expectation is they will continue to tick higher into 2027. The big question is whether those foreign tons will arrive in volumes sufficient to provide the relief steel consumers want.
SSAB Americas announced immediate changes to pricing extras on select products, according to a letter sent to customers Friday morning.
Nucor Plate Group said it will be increasing its fuel surcharge to $20 per short ton for next month, effective on all shipments beginning Oct. 1.