SMU Data and Models
Nucor Again Maintains Plate Prices
Written by David Schollaert
February 16, 2023
Nucor Corp. will again keep plate prices unchanged with the opening of its April order book.
The steelmaker has now repeatedly maintained its plate tags since its sharp price cut in late November when it lowered plate prices by $140 per ton ($7 per cwt).
The Charlotte, N.C.-based steelmaker said the move was effective on Feb. 16, according to 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.
“We reserve the right to review and requote any offers that are not confirmed with either a Nucor sales acknowledgement or written acceptance by both parties,” the company said.
SMU’s latest check of the market on Feb. 14 put discrete plate prices at an average of $1,450 per ton ($72.50 per cwt), FOB mill. The price is up just $10 per ton since late December, but down more than 25% from an all-time high of $1,940 per ton in May 2022, according to SMU’s interactive pricing tool.
Since SSAB Americas announced a $60-per-ton plate price increase on Jan. 18, Nucor has kept its plate prices sideways through two pricing announcements.
This latest move may indicate that demand is steady, and not as robust as mills have stated, especially given that service centers reported lower inventories at the end of January amid pricing uncertainty, according to data SMU’s January Service Center Inventories Report.
By David Schollaert, david@steelmarketupdate.com
David Schollaert
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