Steel Mills
Nucor Increases Plate Prices $80-200/ton in Leading Move
Written by Michael Cowden
September 22, 2021
Nucor, in a leading move, announced that it was increasing plate prices along with the opening of its November order book.
The price hike is $80 per ton ($4/cwt) for A36 plate and normalized product, and it is $200 per ton ($10/cwt) for quenched-and-tempered material.
The increase – announced on Wednesday, Sept. 22 – marks at least the fifth consecutive month that the Charlotte, N.C.-based steelmaker, the largest in the U.S., has announced substantial price hikes.
Nucor’s new ex-works base price for cut-to-length A36 plate is $1,725 per ton ($86.25/cwt), up from $1,645 per ton last month, according to letters to customers.
The steelmaker’s new price for normalized A516-70 product is $1,925 per ton ($96.25/cwt), up from $1,845 per ton a month prior.
And Nucor’s new base price for quenched-and-tempered Grade A514 material with a Grade B base is now $2,285 per ton ($114.25/cwt), up from $2,085 per ton in July.
The new, higher prices are effective immediately and will be collected along with published extras. “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.
Other plate mills will probably follow Nucor and announce higher prices as well, market participants said.
SMU’s benchmark plate price stands at $1,740 per ton ($87/per cwt), down $5 per ton from a week earlier but $70 per ton higher than $1,670 per ton a month ago, according to SMU’s interactive price tool.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Mills
AHMSA opens doors to potential buyers as $1.3B asset auction nears
AHMSA is opening its doors to potential buyers to tour its steel plant and mining operations in northern Mexico in preparation for the next stage of its bankruptcy process: the auction of its assets.
USW seeks clarity on USS plans for Granite City Works
The United Steelworkers union has asked U.S. Steel to elaborate on its Granite City Works plans following reports that the steelmaker is ending processing at the facility.
Nucor maintains plate prices, opens October order book
Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.
ArcelorMittal Mexico to import from sister mills as it works to resume DRI production
ArcelorMittal has partially restarted operations at its direct reduction plant in Lazaro Cardenas, Michoacan. An explosion on Aug. 18 rocked the massive steelworks on Mexico’s Pacific coast, impacting production of direct-reduced iron (DRI).
Fall maintenance outages are coming in hot
Labor Day has passed, the sun is starting to set a little earlier each day, and cooler weather has begun to find its way down to many of us across North America. And you know what that means for the steel industry… Fall maintenance outages!