Steel Products Prices North America

Nucor Announces $40 Increase on Plate

Written by John Packard

This afternoon Nucor Plate Mill Group increased prices for all plate products by $40 per ton ($2.00/cwt). The follows a $40 per ton increase on plate by Evraz North America dated Oct. 28, 2019.

The Nucor increase is to be effective “immediately” and impacts all transaction (spot) prices on new orders of carbon, alloy and heat-treated plate.

Steel Market Update has adjusted our Price Momentum Indicator to “Neutral” from Lower. This means, with two domestic mills having announced increases on plate spot pricing, that we will allow the market to determine if prices will bottom and move higher from here or if the slide will continue.

We have a separate article on plate in tonight’s newsletter, which was produced prior to the Nucor announcement around 4 p.m. ET this afternoon.

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