Steel Mills

Nucor Lowers Plate Prices by $140/Ton
Written by Laura Miller
November 30, 2022
After two months of maintaining plate prices, Nucor Corp. announced it will be lowering plate prices with the opening of its January order book.
In a letter to customers, the Charlotte, N.C.-based steelmaker said prices for as-rolled discrete plate, normalized plate, and quench & tempered plate will all be decreasing by $140 per net ton, effective Nov. 29.
Published adders and extras will continue to be applied, and the company reserves its right to review and re-quote any unconfirmed offers, the letter states.
Nucor last lowered prices for discrete and normalized plate by $120 per ton in September for its November order book.
SMU’s market check this week put discrete plate prices at an average of $1,550 per ton ($77.50 per cwt), FOB mill. The price is down 2.5% from $1,590 per ton one month ago and down 20% from an all-time high of $1,940 per ton in May of this year, according to SMU’s interactive pricing tool.
The move was not unexpected, as some discounting has been reported in recent weeks and demand has been lackluster with buyers remaining on the sidelines, according to SMU’s latest plate market report.
By Laura Miller, Laura@SteelMarketUpdate.com

Laura Miller
Read more from Laura MillerLatest in Steel Mills

Nucor names Batterbee, Bledsoe to HR roles
Nucor Corp. has promoted Thomas J. Batterbee to the position EVP of human resources and talent and appointed Elizabeth Bledsoe to the newly created position of president of human resources and talent.

Millett sees tariffs, CORE case benefiting SDI
Steel Dynamics' top exec thinks Trump’s tariff policies, as well as the results from the recent CORE case, will prove advantageous to the Fort Wayne, Ind.-based steelmaker and aluminum company.

USW digs in on opposition to USS-Nippon deal
“We remain deeply concerned about the national and economic security implications of the subject transaction,” the union stated in the letter dated April 21.

SDI’s Q1 earnings slump on-year, but up sequentially
SDI earnings slip in first quarter year over year, but are up sequentially.

POSCO inks MoU with Hyundai on Louisiana EAF mill
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.