Plate Report: Nucor Catches Many by Surprise, Demand Still Poor

US plate prices were mostly flat this week, but more erosion could be on the horizon now that Nucor announced another round of price cuts.

SMU’s most recent check of the market on Tuesday, Nov. 29 placed plate prices between $1,480-1,620 per ton with an average of $1,550 per ton FOB mill east of the Rockies – unchanged week-on-week (WoW) according to our interactive pricing tool (Figure 1). But tags were set before the surprise drop by the Charlotte, N.C.-based steelmaker.

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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