Plate market gains footing as Nucor joins price hike

Dec 09, 2010 | 10:34 AM |

A lagging U.S. market for plate steel products—lagging in terms of demand and in the timing of price hikes relative to flat-rolled steel—is beginning to gain traction as 2010 draws to a close, according to market sources.

Nucor Corp., Charlotte, N.C., this week joined other U.S. plate producers in announcing a $50-per-ton spot market price increase for shipments beginning Jan. 8, pushing transaction prices for cut-to-length and coiled plate to around $800 per ton ($40 per hundredweight).

Nucor said in a letter to customers that for contract plate orders its raw materials surcharge would be lifted by $45 per ton to $243 per ton, effective the same date.

Similar moves were announced previously by SSAB North American Division, Lisle, Ill., and by ArcelorMittal USA, Chicago, which said the increases would take effect for all non-contract shipments after Jan. 30 (AMM, Dec. 7).....

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