Nucor follows with plate price increase

Electric arc furnace (EAF) minimill steelmaker Nucor has increased its plate pricing for August shipments, following other plate makers.

Nucor increased plate prices yesterday by $120/short ton (st) to $1,440/st fob mill for August tons. The increase is lower than the $150/st in price increases that steelmaker SSAB announced earlier in the week. SSAB announced a price increase of $100/st on 21 June, following it with another price increase of $50/st yesterday.

Cleveland-Cliffs is heard to have pushed plate pricing to $1,590/st fob mill for September tons.

Nucor produces plate steel at mills in Hertford, North Carolina; Tuscaloosa, Alabama; and Longview, Texas

The Argus US plate assessment increased by $56.50/st this week to $1,518.25/st delivered on 22 June because of the first SSAB price increase on 21 June, reversing losses posted over the prior four weeks.

By Rye Druzin