Final Thoughts
January 20, 2021
Final Thoughts
Written by John Packard
Earlier this week I received a note from one of our readers regarding the plate price index and the changes we recently made to the index (FOB Mill vs. Delivered pricing). We were asked how we are accomplishing this, and how do our members reconcile the historical data that was based on delivered pricing versus the new data, which does not include freight.
As many of you are aware, in the fourth quarter 2020 Nucor changed the way they quote their plate customers from delivered to an FOB Mill basis with a matrix for freight costs to their customers. Other plate suppliers have adopted the FOB Mill basis for quoting, and Steel Market Update adjusted our index to reflect the change.
