On Friday, Nucor Plate Group informed customers that effective immediately, it will raise transaction prices on all new orders for carbon, alloy and heat-treated plate by a minimum of $1.50 cwt. ($33/mt or $30/nt). Nucor reserved the right to review and re-quote any offers not yet confirmed with either a Nucor sales acknowledgement or written acceptance by both parties.
Soon after, SSAB Americas said that it is raising the transaction price for all non-contract, as-rolled, high strength low alloy plate, normalized plate, alloy plate, cut-to-length plate greater than 72 inches wide and hot rolled coil greater than 72 inches wide by a minimum of $1.50 cwt. The announcement applies to all new and existing orders acknowledged for the ship week of April 14 and beyond.
The letters come about two and a half weeks following Nucor's $1.50 cwt. plate price increase on February 19, which was also effective immediately, and SSAB's $1.50 cwt. increase on February 18, which was effective with March 17 shipments.
While Nucor and SSAB Americas raised prices $1.50 cwt. a few weeks ago, ArcelorMittal USA announced a $3.00 cwt. ($66/mt or $60/nt) increase on February 21--Friday's increase is said to be a likely response to the ArcelorMittal increase as well as a significant scrap price increase for March.