NEW YORK Nucor Corp. has raised minimum base prices on its plate products by $30 per ton effective immediately, it said in an Oct. 17 letter to customers.
The increase by the Charlotte, N.C.-based steelmaker applies to all new orders for carbon, alloy and heat-treated plate and follows similar moves by SSAB Americas (amm.com, Oct. 16) and ArcelorMittal USA LLC (amm.com, Oct. 9) .
Earlier this week Evraz Inc. North America announced it would idle its Claymont, Del., facility, which service center sources said would likely give other producers a reason to boost prices in a flat market (amm.com, Oct. 14).
The plate market has been rather stable, but with squeezed margins and unchanged demand, several sources questioned whether the price hike had any legs.
One Midwest buyer source was hesitant, arguing that the pricing was unlikely to stick because demand has been largely unchanged.
"Its worth a try, though," he said.