Prices
October 19, 2023
Written by Bradley Clark
Well, what a difference a month makes…
Against the backdrop of a prolonged United Auto Workers (UAW) strike, a low inventory environment, and planned and unplanned outages at mills, prices have moved higher. With a second round of price hikes announced today — Nucor, Cliffs, and U.S. Steel — we have seen the forward curve push up around $30 per net ton for any given month.
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.
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.
Nucor said its consumer spot price for hot-rolled coil will be $1,200 per short ton (st) the week of Monday, Sept. 14. That's a $10/st increase from a week earlier.