Prices
March 13, 2022
Written by Michael Cowden
The Biden administration rolled out a new round of trade actions aimed at punishing the Russian government for launching an invasion of Ukraine.
Some of those measures have the potential to reach deep into the steel supply chain – including with tariffs of 20% or more on many Russian steel products, according to trade experts and government documents.
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.