American steel producers disagree on pricing strategies for July
SSAB Americas has announced a $40 per short ton price increase for new orders shipped after June 28. Instead, Nucor Plate Group decided to leave prices unchanged; the company will start accepting July orders on May 15th. This is reported by the Steel Market Update.
For both manufacturers, the deadline for submitting applications for July is June 5.
Nucor's decision surprised the market. According to experts, this strategy is aimed at retaining customers and protecting them from import competition. It is expected that other plants may follow Nucor's example, despite SSAB's attempt to raise quotations.
At the same time, Nucor increased the spot price for consumers for hot–rolled coils (HRC) by $10 to $1,080 per short ton. Lead times will remain unchanged and range from 3 to 5 weeks.