Steel Products

Nucor raises plate prices by $60/ton

Written by David Schollaert

January 27, 2025

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

The Charlotte, N.C.-based steelmaker said in a letter to customers on Monday morning, Jan. 27, that it would be seeking an increase of $60 per short ton (st).

Nucor said the increase was effective immediately.

While Nucor gave no clarity on the base price for as-rolled and cut-to-length products, they said target base prices for normalized, quench and tempered, were $1,235/st and $2,405/st, respectively.

In theory, the increase could bring its base price to $1,035/st, since its last reported price was $975/st, when it slashed tags by $100/st on Oct. 29, 2024. It had maintained tags at that level since.

This, however, would be a nearly $200/st price bump, if accepted by buyers, as prices had been just late last week ranging in the mid to upper $800s.

SMU’s plate price stands at $845/st on average, down $5/st from a week ago. Our HR price is at $685/st on average, unchanged from a week earlier – up just $50/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

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.

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