Steel Prices

Nucor keeps plate prices unchanged
Written by David Schollaert
January 2, 2024
Nucor Corp. announced in a letter to customers on Friday, Dec. 29, that its plate mill group would hold prices unchanged for as-rolled discrete plate, normalized, and quenched-and-tempered plate with the opening of its plate mill order book for February.
The Charlotte, N.C.-based steelmaker said tags would retain the price “set forth” in its Nov. 28 notice, when it increased prices by $40 per ton to $1,430 per ton.
The move was effective with new orders received on Saturday, Dec. 30, the letter said.
“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.
To keep track of the latest mill price increases, visit SMU’s price increase calendar.

David Schollaert
Read more from David SchollaertLatest in Steel Prices

CRU: Chinese steel export prices mixed, although local buying improves
Chinese export prices for longs were almost steady this week, while those for flats generally declined as producers cut prices to secure deals.

HR Futures: Nascent rally in HRC futures settles above 6-week downtrend
The CME Midwest HRC futures market’s response to Trump’s election and subsequent comments about blanket 25% tariffs on Canada and Mexico was surprisingly counterintuitive.

SMU price ranges: Tags flat or down, sheet momentum ‘lower’
SMU’s flat-rolled steel prices were flat or lower as tariff-related uncertainty continued to drag on the market.

Pig iron markets seek clarity after tariff confusion
The pig iron markets have been quiet for the last several weeks, as tariff implementation on imports into the US became a reality. There has been debate on which party will have to pay the tariff. A recent transaction could provide the answer to that question.

HR Futures: Market at crossroads after turbulent run
The market appears to be pausing after a turbulent run. But tension remains just beneath the surface. With net long positioning still elevated, sentiment-driven selling could quickly reignite volatility. Still, supply constraints and limited imports are laying the groundwork for a resilient physical market. This moment of calm feels more like a crossroads than a conclusion.