Steel Mills

Nucor Keeps Plate Prices Unchanged

Written by David Schollaert

December 29, 2022

Nucor Corp. will keep plate prices unchanged with the opening of its February order book. The move comes after the steelmaker announced a sharp decrease in late November.

The Charlotte, N.C.-based steelmaker said the move was effective on Dec. 28, in a letter to customers.

Published adders and extras will continue to be applied, and the company reserves the right to review and requote any unconfirmed offers, the letter said.

Nucor lowered plate prices by $140 per ton ($7 per cwt) in November for its January order book, and by $120 per ton in September for its November order book.

SMU’s latest check of the market on Dec. 20 put discrete plate prices at an average of $1,440 per ton ($72 per cwt), FOB mill. The price is down 7.1% from $1,550 per ton one month ago and down nearly 26% from an all-time high of $1,940 per ton in May of 2022, according to SMU’s interactive pricing tool.

The move was not unexpected, especially with raw material costs, notably for scrap, expected to move higher in January. Though some discounting is still being reported, demand has been largely quiet with buyers on the sidelines over the holidays.

By David Schollaert, David@SteelMarketUpdate.com

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

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