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
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