Steel Mills
November 30, 2022
Nucor Lowers Plate Prices by $140/Ton
Written by Laura Miller
After two months of maintaining plate prices, Nucor Corp. announced it will be lowering plate prices with the opening of its January order book.
In a letter to customers, the Charlotte, N.C.-based steelmaker said prices for as-rolled discrete plate, normalized plate, and quench & tempered plate will all be decreasing by $140 per net ton, effective Nov. 29.
Published adders and extras will continue to be applied, and the company reserves its right to review and re-quote any unconfirmed offers, the letter states.
Nucor last lowered prices for discrete and normalized plate by $120 per ton in September for its November order book.
SMU’s market check this week put discrete plate prices at an average of $1,550 per ton ($77.50 per cwt), FOB mill. The price is down 2.5% from $1,590 per ton one month ago and down 20% from an all-time high of $1,940 per ton in May of this year, according to SMU’s interactive pricing tool.
The move was not unexpected, as some discounting has been reported in recent weeks and demand has been lackluster with buyers remaining on the sidelines, according to SMU’s latest plate market report.
By Laura Miller, Laura@SteelMarketUpdate.com
