Prices
November 15, 2022
Written by Michael Cowden
Steel sheet prices fell across the board again this week, with hot-rolled coil prices dropping to their lowest point since late September 2020 – more than two years ago.
But industry opinion about the direction of prices has diverged. That’s a significant shift from prior weeks, when sentiment was almost uniformly bearish.
Nucor's consumer spot price for hot-rolled increased by $10/st w/w on Monday, Oct. 5 to $1,230 per short ton.
SSAB Americas aims to increase base plate prices by at least $60 per short ton (st), according to a letter sent to customers on Monday.
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.