West Coast plate heading higher as hikes sticking

Dec 02, 2010 | 01:04 PM |

West Coast buyers of carbon steel plate are expecting another price hike as a recent increase appears to be sticking.

January prices for warehouse grades and sizes, reflecting $30-per-ton ($1.50-per-hundredweight) mill price hikes, are now in the range of $42.50 to $44 per cwt ($850 to $880 per ton), according to market sources. Moreover, buyers said they're getting indications that these mills are looking for another increase of roughly $40 per ton.

Charlotte, N.C.-based Nucor Corp. and ArcelorMittal USA, Chicago, are reportedly quoting shipping dates into late January, while SSAB's North American division is as much as a month longer, particularly at its mill in Montpelier, Iowa. Some market sources say the gap is due to an increase in business for the subsidiary of Stockholm, Sweden-based Svenskt Stål AB.....

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