Nucor Increases Plate Prices $50/Ton in Leading Move

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