Plate Prices Up $30 Per Ton

SMU learned from multiple buyers of plate that the market was quite tight and lead times were moving into September and beyond. One plate buyer told us, “Lead times have effectively gone for 1 month to 4 months, in the past 6 months.” The buyer went on to say that they expect the plate mills will be booked through the end of the year by late July.

In an email to SMU one service center executive advised that Nucor had raised their prices the $30 per ton mentioned above and that the mill was close to closing October at their Herteford plate mill. In the executive’s words, “We had no choice but to place.”

They went on to say that prices have essentially gone up $80 per ton during the May through October order placement based on lead times. In other words prices on plate rose $30 per ton for May orders and then rose again by $20 per ton for September orders and now an additional $30 per ton for October orders.

Platts advised earlier this week that their A-36 commodity plate price assessment is $835 per ton fob Southeastern plate mill.