Steel Products Prices North America
Nucor Opens August Plate Book, Lifts Prices $120/ton
Written by Michael Cowden
June 23, 2021
Nucor has increased base prices for steel plate by at least $120 per ton ($6/cwt) along with the opening of its August order book.
The new, higher prices are effective immediately and will be collected along with published freight and extras, the Charlotte, N.C.-based steelmaker said.
Nucor’s new ex-works base price for cut-to-length A36 plate is $1,440 per ton ($72/cwt), up from $1,320 per ton last month, according to letters to customers dated Wednesday, June 23.
The steelmaker’s new base prices for quenched-and-tempered Grade A514 material with a Grade B base is now $1,760 per ton, up from $1,640 per ton in May.
And Nucor’s new price for normalized A516-70 product is $1,640 per ton, up from $1,520 per ton a month prior.
“We reserve the right to review and requote any offers that are not confirmed with either a Nucor sales acknowledgement or written acceptance by both parties,” the company said in its letter to customers.
Nucor’s plate price hike comes after competitor SSAB this week increased prices by a combined $150 per ton.
SMU’s benchmark plate price stands at $1,495 per ton ($74.75/cwt), up nearly 71% from $875 per ton at the beginning of the year and more than double $590 per ton in August 2020, when both sheet and coil prices bottomed out.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
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