Steel Products Prices North America

Nucor Looks to Keep Plate Prices Unchanged

Written by Michael Cowden

October 3, 2022

Nucor Corp. aims to hold plate prices steady with the opening of its November order book.

The Charlotte, N.C.-based steelmaker said the flat pricing would be effective Tuesday, Oct. 4.

“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 in a letter to customers dated Monday, Oct. 3.

The attempt to keep plate prices unchanged comes after Nucor on Sept. 19 announced a $120-per-ton ($6-per-cwt) price cut on discrete plate.

SMU’s discrete plate price stood at $1,620 per ton when this article was filed. That’s down 6.1% from $1,725 per ton a month ago and down 16.5% from a 2022 high of $1,940 per ton recorded in May, according to our interactive pricing tool.

US plate prices nonetheless remain well above prices abroad, and domestic plate lead times continue to be short.

By Michael Cowden, Michael@SteelMarketUpdate.com

Michael Cowden

Michael Cowden is managing editor for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

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