New Report Preview – Steel Prices

Nucor confirmed earlier reports this week that steelmakers had shelved a March plate price increase, most likely due to the significant uptick in January plate imports, in our view.

American Metal Market has reported that Nucor is holding the line for February/March plate prices – despite a $30/ton increase in the February scrap surcharge – following two hikes that lifted January list prices by $80/ton (or nearly 9%), but is raising heat-treat plate prices by another $40/ton for March that will lift list prices a total of $140/ton (an estimated 12-13%) since the end of the year.

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