Nucor will raise US steel plate prices another $40/st, it said Wednesday. The increase would be effective immediately on all new orders, as well as existing spot orders acknowledged for the week of June 4 production and beyond.
The new increase is on top of the $60/st increase Nucor announced on April 8 and occurred around similar announcements of up $50-$60/st by other plate producers. Overall, the US market has seen six separate rounds of plate price increases from producers since December 2015.
Following the announcements, plate prices have seen a significant rebound after falling steadily through 2015. Plate prices bottomed at $455-$460/st in December of 2015 but have climbed back to $580-$590/st, a 27.9% rebound, according to the Platts' daily assessment. Prices are for commodity grade A36 plate on an ex-works southeastern mill basis.
