Nucor on Tuesday said it was raising by $25/st its price for steel plate products effective immediately. The move comes after SSAB Americas announced a similar increase on Friday.
As of late Friday, Nucor was discussing an increase with market participants, who were certain the Charlotte-based producer would follow SSAB Americas' move.
"The imports have driven the price down so badly," a mill source said. "Our price is down so much we are working to recover what we had lost. We have got to get this market back to where it needs to be."
