Steel Mills

Nucor Lowers Plate Prices by $40/t

Written by David Schollaert

September 5, 2023

Nucor Corp. will lower plate prices by $40 per ton ($2 per cwt) with the opening of its October order book. The decrease comes after the steelmaker has held prices unchanged since May, according to SMU’s steel mill price increase calendar.

The Charlotte, N.C.-based steelmaker said the move was effective on Sept. 1, according to a letter to customers.

The notice applies equally to rolled and normalized plate products. 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 acknowledgment or written acceptance by both parties,” the company said.

SMU’s latest check of the market on Aug. 29 put discrete plate prices at an average of $1,455 per ton ($72.75 per cwt), FOB mill. The price was down just $5 per ton vs. the prior week. The top end of our range is expected to come down with today’s pricing to reflect Nucor’s updated published price.

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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