Buyers yet to see signs of plate prices rising

Feb 22, 2013 | 04:45 PM | Catherine Ngai

Tags  steel plate, price increase, SSAB, Nucor, ArcelorMittal

BONITA SPRINGS, Fla. — Steel plate buyers believe a near-term uptick in demand is needed before spot prices follow the recent hikes announced by domestic mills.
Last week, SSAB Americas led the charge by lifting spot carbon and alloy plate prices by $30 a ton effective with March 17 shipments, an action that was quickly followed by Nucor Corp.’s immediate $30-a-ton move (, Feb. 19) and ArcelorMittal USA LLC’s $60-a-ton increase for April deliveries (, Feb. 22). Buyers had earlier questioned the prospects of an increase in the context of lackluster demand and continued to state that prices quoted have not....

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