Steel Prices
Nucor again aims to keep plate prices flat
Written by David Schollaert
September 4, 2024
Nucor intends to keep plate prices unchanged with the opening of its October order book, according to a letter to customers dated Wednesday, Sept. 4.
The Charlotte, N.C.-based steelmaker said it would maintain prices set in its July 1, 2024, price letter.
The announcement indicates that Nucor will keep plate prices at $1,075 per short ton (st), the price it specified in early July. Nucor has now held plate tags unchanged since slashing prices by $125/st on July 1.
There had been speculation that Nucor might lower plate prices, especially given bearish sentiment and lower demand. But following steady sheet price gains, some wondered if Nucor would instead seek to keep plate tags flat, especially given that most sources agree lower tags would not entice buying.
SMU’s plate price stands at $960/st on average, down $20/st from a week ago. Our HR price is at $690/st on average, down $10/st from a week earlier – but up $55/st from a recent low of $635/st in late July. That information comes from our pricing archives, which you can find here.
Also, you can track mill price announcements here.
David Schollaert
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