Steel plate tags rise but market still ‘fragile’
Mar 14, 2013 | 04:02 PM
| Catherine Ngai
Tags
steel plate,
Nucor,
ArcelorMittal USA,
SSAB Americas,
steel prices,
discrete plate,
steel,
plate
Catherine Ngai
NEW YORK — Following months of downward pressure thanks to lackluster demand and plenty of supply, carbon steel plate prices seem to have reversed course on the back of a recent uptick in scrap prices and increased seasonal activity.
"We’ve continued to see strong booking weeks across the board," one mill source said, noting that nonetheless, the market isn’t out of the woods just yet. "We recognize that things are pretty fragile right now, and it doesn’t take much to break it. ... (So) we’re watching closely."
Charlotte, N.C.-based Nucor Corp. and Lisle, Ill.-based SSAB Americas both hiked plate prices some $30 per ton last week following increases of the same amount announced at the end of February (amm.com, March 8). Chicago-based ArcelorMittal USA LLC had earlier boosted plate prices by $60 per ton in a single move (amm.com, Feb. 22). ....
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