Steel Products Prices North America

Nucor Increases Plate Price Another $50

Written by Tim Triplett

The Nucor Plate Group has increased transaction prices on all new orders for carbon, alloy and heat-treated plate by $50 per ton, effective immediately on any new or unconfirmed orders.

Nucor’s Jan. 5 price hike follows on a $50 per ton increase announced Dec. 6 and a $40 per ton increase announced Nov. 15 on the company’s plate products.

In their fourth-quarter earnings guidance in mid-December, Nucor executives said margin pressure as a result of imports earlier in the year, and weakness in plate steel, caused the company to lower its fourth-quarter earnings estimate, though they are encouraged by the market’s positive momentum heading into 2018.

To Steel Market Update’s knowledge, no other plate mills have yet followed Nucor’s lead, but other announcements are likely this week.

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