Prices
October 11, 2022
Written by Laura Miller
H2 Green Steel (H2GS) is partnering with Midrex Technologies for its new direct reduced iron (DRI) facility in northern Sweden.
Using Midrex’s technology, H2GS’s 2.1-million-metric-tons-per-year facility will run on 100% green hydrogen. Paul Wurth, an SMS group company, will also provide technology and equipment for the first-of-its-kind DRI plant.
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.