Steel Mills

Nucor lowers plate prices by $50/st

Written by David Schollaert

February 1, 2024

Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its March order book.

The Charlotte, N.C.-based steelmaker said in a letter to customers on Tuesday, Jan. 30, that tags would be lowered by $50 per short ton (st) to $1,380/st.

Nucor didn’t include quenched-and-tempered products in its pricing notice.

The move was effective with new orders received on Wednesday, Jan. 31, Nucor 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,” the company said.

The move marks Nucor’s first plate price decrease announcement since lowering tags by $140/st on Oct. 30 of last year.

To keep track of the latest mill price increases and decreases, 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.

Read more from David Schollaert

Latest in Steel Mills