Analysis
November 6, 2022
Written by David Schollaert
Nucor on Thursday confirmed its plate prices would remain unchanged with the opening of its December order book. Though the market was anxiously awaiting the Charlotte, N.C.-based steelmaker’s announcement, few were surprised by it.
Why? It’s not clear that a price decrease at this stage in the fourth quarter would generate buying. And it would devalue inventory.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.
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.
SSAB Americas announced immediate changes to pricing extras on select products, according to a letter sent to customers Friday morning.
Kibar Americas said production has started at its aluminum plant in Fairmont, W.Va., where it will manufacture products for the HVAC, packaging, automotive and industrial sectors.
The phrase “Fortress North America” seems to resurface anytime US, Canada, and Mexico trade negotiations roll around. The idea of an economic Fortress North America burst onto the scene in the late 1980s and early 1990s in the lead up to NAFTA. In theory...