Nucor Increases Plate Prices by $40/Ton

Nucor has increased plate prices by $40 per ton ($2 per cwt) with the opening of its January order book.

The price hike – announced on Monday, Nov. 29 and effective immediately – is equal across all plate products.

Nucor

The Charlotte, N.C.-based steelmaker’s price increase is also notable because it is $10 per ton less than the $50-per-ton price hike announced by competitors SSAB Americas and Algoma last week.

Nucor’s new ex-works base price for cut-to-length A36 plate is $1,815 per ton ($90.75/cwt) ex works, up from $1,775 per ton last month, according to letters to customers.

The steelmaker’s new price for normalized A516-70 product is $2,015 per ton ($100.75/cwt) ex works, up from $1,975 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 $2,375 per ton ($118.75/cwt) ex works, up from $2,335 per ton previously.

“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 does not reflect the latest increase – was at $1,775 per ton ($88.75/cwt) when this article was filed, down $25 per ton from $1,800 per ton from last month, 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.