Plate prices poised to rise, sentiment mixed

Aug 22, 2014 | 07:05 PM | Michael Cowden

Tags  plate, plate prices, price increase, ArcelorMittal USA, Nucor, SSAB Americas, steel, steel prices Michael Cowden

CHICAGO — Plate prices appear poised to move upward after three major domestic producers recently announced increases of $30 to $40 per ton ($1.50 to $2 per hundredweight).

AMM’s price assessment for plate held steady at $43 per cwt ($860 per ton). However, that flat trend is a result mainly of the fact that increases did not affect many customers over the past week.

If the current increases were absorbed in full by the market, prices for carbon steel plate would be expected to rise to $44.50 per cwt ($890 per ton). However, it remained unclear Aug. 22 exactly where prices would settle.

Sentiment about the direction of pricing—which had been mixed earlier this past week—appeared to firm with Chicago-based ArcelorMittal USA LLC’s and Lisle, Ill.-based SSAB Americas’ announcements (amm.com, Aug. 22). The moves are expected to bolster Charlotte, N.C.-based Nucor Corp.’s hand in increasing tags (amm.com, Aug. 18).....





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