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

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

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