Plate
December 13, 2022
Written by Laura Miller
The US Department of Commerce’s International Trade Administration (ITA) has updated antidumping (AD) duties on cut-to-length plate from Belgium and welded standard pipe from Turkey, according to documents in the US government’s Federal Register.
CTL Plate from Belgium
Reliance Inc. is keeping a close eye on inventory as extended lead times, elevated prices, and tight material availability complicate purchasing decisions. Executives at the Phoenix-based service center said on Thursday's third-quarter earnings call that inventory levels were appropriate. The company is reducing excess inventory and focusing on inventory turns. Chief Financial Officer Arthur Ajemyan said inventory turns improved 10% year over year.
"Now, the problem is no longer the price. The problem is having access to steel." That would have made a good lead. But I can’t take credit for it. Those (very quotable) words are from Cleveland-Cliffs Chairman and CEO Lourenco Goncalves during the steelmaker’s quarterly earnings conference call on Monday. For a while, I thought the shortages we'd been hearing about might be mostly a problem for small- and mid-sized buyers. But we’re seeing even some of the biggest steel buyers talking openly about supply problems.
The majority of buyers SMU polled this week expect prices to continue rising from here, supported by limited supply. Demand is said to be strong, with most remarking that it is stable to improving. Most say inventories are moving faster this year than last, attributed to tight supply, late mill deliveries, and generally leaner supply chains. Imports continue to appeal to many buyers on both price and availability, but lead times, tariffs, and other risks remain. Buyers are split on whether President Trump’s tariff policies are helping their businesses and whether they’re seeing manufacturing reshoring.
Sheet and plate prices continue to push higher as mills charge a premium for what little spot tonnage remains for 2026, market participants said. SMU’s price assessment for hot-rolled (HR) coil now stands at $1,290 per short ton (st) on average, up $10/st week over week. HR price gains averaged $5/st w/w throughout July and August, with no changes in prices some weeks and gains of at most $15/st w/w. In September and October to date, in contrast, prices have increased every week—with the average gain at $11.25/st w/w and w/w gains as high as $20/st. Prices for cold-rolled and coated products continued to increase as well. SMU's price assessment for cold-rolled (CR) coil clocked in at...
Nucor Plate Group said it will increase its fuel surcharge to $40 per short ton (st) next month, effective for all shipments beginning Nov. 1. The Charlotte, N.C.-based steelmaker first said in April that the fuel surcharge was necessary to address rising costs, initially setting the surcharge at $10/st on April 16. The company had previously maintained the $10/st surcharge rate for four straight months through Aug. 17. But it has since doubled its rate in back-to-back months—increasing its surcharge to $20/st in September, followed by its Oct. 15 notice to $40/st. “We remain committed to providing reliable service and transparency as we adapt to changing market dynamics,” Nucor said in a letter to customers on Thursday evening. Nucor announces the surcharge amount on or about the 15th of each month for shipments beginning the following month.