Steel Products Prices North America
Nucor Follows with $50 Increase on Plate
Written by Tim Triplett
May 21, 2020
Following on Monday’s announcement by ArcelorMittal USA and SSAB Americas, Nucor informed customers on Wednesday that it has raised the price of its plate products. Nucor is seeking an additional $50 per ton ($2.50/cwt) on all orders for carbon, alloy and heat-treated plate. The other mills raised their plate price by just $40 per ton ($2.00/cwt).
The market price for plate has declined by around $120 per ton this year, to the current average of $590 from $710 in January, according to Steel Market Update data. The mills hope the increases will put a floor on plate prices ahead of improving demand as coronavirus restrictions are eased.
An increase from Nucor was widely expected following the move by AM and SSAB earlier this week, though the additional $10 was a bit of a surprise.
The last price increase announcements on plate were in early December when Nucor and SSAB sought an additional $50 per ton.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America
Nucor holds the line on published HR spot price
The steelmaker has kept its weekly consumer spot price for hot-rolled steel sheet unchanged since Nov. 12.
Nucor’s HR spot price unchanged for 5th week
Nucor’s weekly spot price for hot-rolled (HR) coil will remain at $750 per short ton (st) for a fifth week.
SMU price ranges: Market stable amid post-Thanksgiving glut
Steel sheet prices remain at or near multi-month lows, while plate prices continue edging lower from their mid-2022 peak.
Nucor again holds HR spot price at $750/ton
For the fourth week in a row, Nucor will keep its published spot price for hot-rolled (HR) coil unchanged.
SMU Community Chat: Timna Tanners on ‘Trumplications’ for steel in 2025
Wolfe Research's Managing Director Timna Tanners discusses the 'Trumplications' for steel in the coming year in this week's SMU Community Chat.