Nucor Increases Plate Prices $85-165 Per Ton

The increase – announced on Friday, Aug. 20 – marks at least the fourth consecutive month that the Charlotte, N.C.-based steelmaker has announced substantial price hikes.

Nucor’s new ex-works base price for cut-to-length A36 plate is $1,645 per ton ($82.25/cwt), up from $1,560 per ton last month, according to letters to customers.

The steelmaker’s new base price for quenched-and-tempered Grade A514 material with a Grade B base is now $2,085 per ton ($104.25/cwt), up from $1,920 per ton in July.

And Nucor’s new price for normalized A516-70 product is $1,845 per ton ($92.25/cwt), up from $1,760 per ton a month prior.

The new, higher prices are effective immediately and will be collected along with published freight and extras, Nucor said.

“We reserve the right to review and requote any offers that are not confirmed with either a Nucor sales acknowledgement or written acceptance by both parties,” the company said.

SMU’s benchmark plate price stands at $1,670 per ton ($83.50 per cwt), unchanged from a week earlier but up 91% from $875 per ton at the beginning of the year and more than double the price a year ago, according to SMU’s interactive price tool.

By Michael Cowden, Michael@SteelMarketUpdate.com