Prices
April 11, 2025
Written by David Schollaert
Cleveland-Cliffs opened its May order book for spot material at $975 per short ton (st).
The Cleveland-based steelmaker said the increase was in “recognizing additional market opportunities from multiple onshoring initiatives” in a letter to customers dated Friday, April 11.
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.