Prices
July 8, 2022
Written by Laura Miller
Luxembourg-based steel tube producer Tenaris SA is set to purchase Benteler Steel & Tube Manufacturing Corp. from Benteler North America Corp. in a deal valued at $460 million.
Benteler Steel & Tube is a seamless pipe producer with production facility in Shreveport, La., that has annual capacity of 400,000 metric tons.
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.