SMU Price Ranges: Sheet Continues Strong Start to ‘23

Sheet prices continued their upward trek this week on the heels of a $50-per-ton price increase announced by Nucor Corp. on Monday. Plate prices, which were not impacted by that move, were unchanged.

Nucor’s increase, which matched one announced last month by Cleveland-Cliffs Inc., was seen by market participants as timed to reflect an upward movement in January scrap prices. It also coincided with more buyers returning to the market in earnest after the holidays.

Michael Cowden

Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.