Steel Products Prices North America
Nucor Follows with $50 Increase on Plate
Written by Tim Triplett
May 21, 2020
Following on Monday’s announcement by ArcelorMittal USA and SSAB Americas, Nucor informed customers on Wednesday that it has raised the price of its plate products. Nucor is seeking an additional $50 per ton ($2.50/cwt) on all orders for carbon, alloy and heat-treated plate. The other mills raised their plate price by just $40 per ton ($2.00/cwt).
The market price for plate has declined by around $120 per ton this year, to the current average of $590 from $710 in January, according to Steel Market Update data. The mills hope the increases will put a floor on plate prices ahead of improving demand as coronavirus restrictions are eased.
An increase from Nucor was widely expected following the move by AM and SSAB earlier this week, though the additional $10 was a bit of a surprise.
The last price increase announcements on plate were in early December when Nucor and SSAB sought an additional $50 per ton.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America
Nucor holds HR price steady this week
Nucor is holding its hot-rolled (HR) coil consumer spot price (CSP) flat this week.
SMU price ranges: Sheet, plate largely unchanged
Sheet prices varied this week. While hot-rolled (HR) coil pricing was largely flat, cold-rolled (CR) coil and tandem product pricing eased slightly reflecting the momentum shift seen last week for HR coil. SMU’s average HR coil price was flat from last week at $835 per short ton (st) – potentially emphasizing the tension between competing […]
Nucor posts $830/ton spot HR price for week of April 8
Nucor said its spot hot-rolled (HR) coil price this week will be $830 per short ton (st).
US HR prices rebound, no longer near parity with imports
US hot-rolled coil and offshore hot band moved further away from parity this week as stateside prices have begun to move higher in response to mill increases.
Galvanized buyers report solid demand, balanced inventories
Galvanized buyers reported solid demand and balanced inventories this week and were anticipating the sheet price increase announced by Cleveland-Cliffs on Wednesday.