Prices
March 6, 2022
Written by Greg Wittbecker
By Greg Wittbecker, Advisor, CRU Group
Two weeks ago, I described how the aluminum industry would not run out of metal supply in 2022 despite the fears of some. Fast forward to today, and we now have the worst case scenario of the war in Ukraine likely leading to Russia being a pariah in the global aluminum community.
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.