Steel Mills
Nucor Maintains Plate Prices
Written by David Schollaert
September 29, 2023
Nucor Corp. is keeping plate prices unchanged with the opening of its November order book. The sideways move by the steelmaker comes after it lowered plate prices in August, according to SMU’s steel mill price increase calendar.
The Charlotte, N.C.-based steelmaker said the move was effective on Sept. 29, according to a letter to customers, adding that it would be maintaining the prices set in its Aug. 31 price letter.
The notice applies equally to rolled, normalized, and quench & tempered 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 Sept. 27 put discrete plate prices at an average of $1,455 per ton ($72.75 per cwt), FOB mill. The price was down $10 per ton vs. the prior week.
The top end of our range continues to reflect Nucor’s published price.
The news comes as a surprise to many in the market especially given tighter lead times, easing demand, and souring sentiment. But others argued that a lower price point would have little positive impact on demand, only devaluing inventories and lowering replacement costs.
But even more bullish sources expected a marginal decrease given bearish dynamics on the heels of Q4 – a generally slower period when destocking takes precedence.
David Schollaert
Read more from David SchollaertLatest in Steel Mills
Ternium pushes forward with growth projects despite slump in earnings and Mexican market
Ternium S.A. Fourth quarter ended Dec.31 2024 2023 Change Net sales $3,876 $4,931 -21.4% Net income (loss) $333 $554 -39.9% Per diluted share $1.43 $2.11 -32.2% Full year ended Dec.31 Net sales $17,649 $17,610 0.2% Net income (loss) $174 $986 -82.4% Per diluted share $(0.27) $3.44 -108% (in millions of dollars except per share) While […]
Kestenbaum, Ancora state their case in proxy fight for U.S. Steel
Ancora Holdings is moving forward with its proxy fight to oust U.S. Steel’s leadership and install a new board of directors and Alan Kestenbaum as CEO.
BlueScope shelves midstream facility but still upbeat on US
BlueScope Steel is pulling back on its expansion plans in the US for now but remains optimistic about the North American market.
Japanese PM cites ‘unjust political interference’ in Nippon/USS deal: Report
Japan’s Prime Minister Shigeru Ishiba said on Monday that former President Joe Biden’s decision to block Nippon Steel’s buy of U.S. Steel was “unjust political interference,” according to a report in Reuters. This comes after another Reuters report on Friday saying that President Trump would not object to Nippon taking a minority stake in the […]
Trump says Nippon will ‘invest heavily’ in USS rather than buy it
Nippon Steel has agreed to “invest heavily in U.S. Steel as opposed to own it,” President Donald Trump said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba. U.S. Steel is “a very important company” and was once “the greatest company in the world”. Of potential foreign ownership of the Pittsburgh-based steelmaker, Trump said, “the concept, psychologically, not good."