Plate mart awaits next move after Nucor hike
Aug 18, 2014 | 06:02 PM
| Michael Cowden
CHICAGO The steel plate market could be poised to move higher after one domestic producer raised prices.
A round of price increases wouldnt come as a surprise, given long domestic lead times, strong end-user demand, higher input costs and supply constraints, market sources said in reaction to the increase by Charlotte, N.C.-based Nucor Corp., adding that it wasnt immediately clear whether other major plate producers planned to follow.
Nucors plate mill group increased transaction prices for all new plate product orders by a minimum of $30 to $40 per ton ($1.50 to $2 per hundredweight), depending on the product, effective immediately (amm.com, Aug. 18).
Lead times for domestic plate mills are generally out to October or November depending on the mill, market sources said. "Based on current lead times, I think (mills) will try to make them stick," one steel fabricator said.....
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