Nucor pushing to boost plate products $65/ton

Dec 14, 2009 | 11:26 AM | Scott Robertson

In a leading move, Nucor Corp. is attempting to increase prices on carbon steel plate products by $65 per ton ($3.25 per hundredweight), effective immediately.

Buyers told AMM that the Charlotte, N.C.-based steelmaker was attempting to raise prices based on increased plate demand, as well as the need to recoup margins lost to rising input costs, principally for scrap.

The increase, if fully absorbed by the market, would lift carbon coiled plate and cut-to-length plate to around $33.50 per cwt, or $670 per ton.

Plate buyer sources see no indication of a pickup in plate demand, especially given the seasonal slowness of the late fourth quarter, and believe that the increase is being driven by costs rather than demand.....

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