Steel Products

Nucor up $40/ton on plate

November 29, 2023

Nucor Corp. announced in a letter to customers on Tuesday afternoon that its plate mill group would increase as-rolled discrete plate, normalized, and quenched-and-tempered plate by $40 per ton ($2 per cwt).

The Charlotte, N.C.-based steelmaker said the higher prices would be effective with new orders received on Tuesday, Nov. 28. It also said the move was made in tandem with the opening of its plate mill order book for January 2024.

“We reserve the right to review and re-quote any offers that are not confirmed with either a Nucor sales acknowledgment or written acceptance by both parties.,” Nucor said in the letter.

Nucor’s move comes after SSAB Americas said earlier on Tuesday it was increasing its plate price by $60 per ton. Nucor last announced a $140-per-ton price cut for plate on Oct. 31.

Market chatter amongst SMU plate sources is that Nucor is already planning another $40-per-ton plate price increase for the end of December. Time will tell if it’s just noise or an inside beat.

To keep track of the latest mill price increases, visit SMU’s price increase calendar.

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.