Steel Products Prices North America
Nucor Increases Plate Prices $85-165 Per Ton
Written by Michael Cowden
August 20, 2021
Nucor – the largest steelmaker in the U.S. – in a leading move announced that it was increasing plate prices along with the opening of its October order book.
The price hike is $85-165 per ton ($4.25-8.25/cwt) depending on the product.
The increase – announced on Friday, Aug. 20 – marks at least the fourth consecutive month that the Charlotte, N.C.-based steelmaker has announced substantial price hikes.
Nucor’s new ex-works base price for cut-to-length A36 plate is $1,645 per ton ($82.25/cwt), up from $1,560 per ton last month, according to letters to customers.
The steelmaker’s new base price for quenched-and-tempered Grade A514 material with a Grade B base is now $2,085 per ton ($104.25/cwt), up from $1,920 per ton in July.
And Nucor’s new price for normalized A516-70 product is $1,845 per ton ($92.25/cwt), up from $1,760 per ton a month prior.
The new, higher prices are effective immediately and will be collected along with published freight and extras, Nucor said.
“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.
SMU’s benchmark plate price stands at $1,670 per ton ($83.50 per cwt), unchanged from a week earlier but up 91% from $875 per ton at the beginning of the year and more than double the price a year ago, according to SMU’s interactive price tool.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Products Prices North America
Thin demand keeps plate prices hovering at lowest levels since February
Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.
SMU Price Ranges: HR crawls back to $800/ton
SMU’s HR price stands at $800/st on average, up $5/st from last week. The modest gain came as the low end of our range firmed, and despite the high end of our range declining slightly.
SMU successfully completes IOSCO review
SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).
Domestic plate prices could heat up despite so-so demand, market sources say
Some sources also speculated that plate could see further price increases thanks to modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.
SMU Price Ranges: HR holds, galv slips amid competing market narratives
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.