Steel plate mills’ price hikes gaining support

Apr 05, 2013 | 04:30 PM | Catherine Ngai

Tags  carbon steel plate, steel plate prices, Nucor, SSAB Americas, ArcelorMittal USA, steel plate imports, mill outages, steel plate demand Catherine Ngai

NEW YORK — Domestic steel mills have successfully pushed carbon plate prices back up to early January levels as stable demand and expectations of further seasonal improvement have allowed suppliers to capture much of the $60-a-ton price hikes announced during the first quarter.

"The mills look to be holding firm on the recent $60-per-ton increase that they announced over the month of March," said one Midwest service center source. "I’m not confident that it’ll all stick throughout April ... but the mills have gotten sick of losing money and I can’t blame them."

Charlotte, N.C.-based Nucor Corp. and Lisle, Ill.-based SSAB Americas both hiked plate prices some $30 per ton in early March following increases of the same amount announced at the end of February (, March 8). Chicago-based ArcelorMittal USA LLC had earlier increased its published plate prices by $60 per ton in a single move (, Feb. 22).....

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