With raw materials rising $40/lt in Decemeber, it appears recent price increase announcements from Evraz, SSAB Americas, ArcelorMittal, and others effective for all orders made in the new year, are already taking effect.
The most commonly reported spot prices for domestic cut-to-length plate are now $42.00-$44.00 cwt. ($926-$970/mt or $840-$880/nt), up approximately $3.00 cwt. ($33/mt or $30/nt) from our last report a week ago, and prices are only trending further upward. "Mills aren't willing to negotiate right now, and the balance of power has swung from the buyers to the sellers," one Southeast service center explained to SteelOrbis. Furthermore, as a result of taking some major orders recently, mill lead times have extended outward, and depending upon the location, delivery dates now vary from mid-January to mid-to-late February. For now, plate prices are expected to remain firm for at least the next few months, as rising scrap prices could warrant yet another increase before the end of the year.