Increases could send US steel plate prices to highest point since 2014

Plate prices have risen in the United States, but market sources are unsure where base prices stand after a fourth round of increases that could send pricing to a more than three-year high.

American Metal Market’s price assessment for cut-to-length plate is at $34.50 hundredweight ($690 per ton), up 1.5% from $34 per cwt previously and up 13.1% from $30.50 per cwt at the start of last year. Lead times are approximately six to seven weeks, according to market participants and mill lead time schedules. Market participants reported transactions in a range of about $34 to $35 per cwt. Mill offers for new material are as high as $36 to $36.50 per cwt, they said. That’s not far off plate’s 2017 peak of $37 per cwt, and those offers don’t yet reflect a $2.50-per-cwt price hike initiated by Nucor on Friday January 5. “It’s goofy right now with so many price increases. You tell me what the price...

Published

Michael Cowden

January 08, 2018

19:51 GMT

Chicago