Prices
March 22, 2024
Written by Stephen Miller
As the month of March goes into the second half, the scrap community is trying to cope with the large drop in ferrous scrap earlier this month.
Has this drop affected flows in several key districts? Will prices continue downward in April? Where is the pig iron market heading? How are the steel mills operating? There are various opinions on these subjects.
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.
US sheet buyers have grappled with supply scarcity in both the spot and contract markets throughout 2026. Now the supply squeeze is spilling over into 2027, according to market participants.
Recycler forward expectations swung toward oversupply in September as inventory drawdowns eased and export demand lost August’s improving responses.