Steel Products Prices North America

Nucor Announces Second $40 Increase on Plate

August 11, 2019

Nucor’s Plate Mill Group informed customers on Friday that it is raising the price of carbon, alloy and heat-treated plate by $40 per ton ($2/cwt), effective immediately on all new and unconfirmed orders.

This is Nucor’s second price hike on plate products in the past two weeks, following on a $40 increase July 26.

Steel Market Update data shows the current average spot price for plate at around $820 per ton, up from about $780 at the time of the first increase. Plate lead times have extended to 4-6 weeks.

The price hikes by Nucor and other mills appear to have reversed the slide in plate steel prices, which had declined from more than $1,000 per ton at the beginning of the year.

Domestic steelmakers also have raised flat rolled steel prices three times since late June by a total of $120 per ton. The market is watching anxiously to see if demand is sufficient to sustain the mills’ increases in the second half.