On Thursday of last week, Nucor announced they would be raising US plate prices by a minimum of $5.00-$7.50 cwt. ($110-$165/mt or $100-$150/nt), adding that their new minimum base price for US domestic plate was set at $66 cwt. ($1,455/mt or $1,320/nt), FOB mill. Evraz North America also announced plans to raise prices by $5.00 cwt. ($110/mt or $150/nt), FOB mill.
Prior to the announcement, the "average" price range was "all over the map," sources note, adding that while most customers were paying $65-$66 cwt. ($1,433-$1,455/mt or $1,300-$1,320/nt), FOB mill, deals below that range had been available to volume customers.
This week, sources close to SteelOrbis have confirmed that most spot market transactions are taking place in the range of $66.00-$69.50 cwt. ($1,455-$1,532/mt or $1,320-$1,390/nt), FOB mill.