10
Jan
21:06
Nucor increases plate $40/st
US steelmaker Nucor has moved up $40/short ton on plate, a move that other producers will likely soon follow, Kallanish learns from market sources.
The increase mirrors a sheet increase announced earlier this week and is primarily tied to rising January scrap prices.
One buy-side source says Nucor’s competitors will be quick to announce their own increases and relieve margin pressure.
“I’m sure they will follow,” he says.
Kallani…
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Anonymous
Very good overview of the weekly steel market.
Anonymous