Steel Products Prices North America

Nucor Increases Plate Prices $50/Ton in Leading Move

Written by Michael Cowden

October 22, 2021

Nucor Corp. in a leading move has increased plate prices by $50 per ton ($2.50 per cwt) with the opening of its December orderbook.

The increase – announced on Friday, Oct. 22 and effective immediately – is equal across all plate products.

steel plate

The Charlotte, N.C.-based steelmaker had in prior months increase prices for quenched-and-tempered plate higher than prices for other plate products.

The announcement also marks at least the sixth consecutive month that Nucor, the largest mill in the North America, has raised prices.

Nucor’s new ex-works base price for cut-to-length A36 plate is $1,775 per ton ($88.75/cwt), up from $1,725 per ton last month, according to letters to customers.

The steelmaker’s new price for normalized A516-70 product is $1,975 per ton ($98.75/cwt), up from $1,925 per ton a month ago.

And Nucor’s new base price for quenched-and-tempered Grade A514 material with a Grade B base is now $2,335 per ton ($116.75/cwt), up from $2,285 per ton in September.

“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 plate price – which takes into account pricing from multiple mills – currently stands at $1,800 per ton ($90/per cwt), up 3.4% from $1,740 per ton from last month and nearly triple $660 per ton a year ago, according to SMU’s interactive price tool.

By Michael Cowden, Michael@SteelMarketUpdate.com

Michael Cowden

Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

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