Steel Mills
March 9, 2022
Nucor Increases Discrete Plate Prices by $40 Per Ton
Written by Michael Cowden
Nucor Corp. is increasing prices for discrete plate by $40 per ton ($2 per cwt), according to letters to customers. The Charlotte, N.C.-based steelmaker made the announcement on Wednesday, March 9, along with the opening of its April orderbook for plate.
All published adders and extras will also be applied. “We reserve the right to review and re-quote any offers that are not confirmed with either a Nucor sales acknowledgement or written acceptance by both parties,” the company said.
Plate prices have been hovering around $1,820 per ton since mid-January, according to SMU’s interactive pricing tool.
And Nucor had in prior months announced that it was keeping plate prices flat.
But with raw materials prices surging (e.g., pig iron) or expected to surge (e.g., scrap), domestic sheet and plate mills have been either publicly announcing price hikes, quietly rolling them out to individual customers, or preparing the ground for future price hikes.
Costs are sharply higher because of the supply disruptions caused by Russain forces invading Ukraine and the the ensuing war there. Both nations are important in the iron and steel supply chain.
By Michael Cowden, Michael@SteelMarketUpdate.com
