Steel Mills

Nucor Increases Discrete Plate Prices by $40 Per Ton
Written by Michael Cowden
March 9, 2022
Nucor Corp. is increasing prices for discrete plate by $40 per ton ($2 per cwt), according to letters to customers. The Charlotte, N.C.-based steelmaker made the announcement on Wednesday, March 9, along with the opening of its April orderbook for plate.
All published adders and extras will also be applied. “We reserve the right to review and re-quote any offers that are not confirmed with either a Nucor sales acknowledgement or written acceptance by both parties,” the company said.
Plate prices have been hovering around $1,820 per ton since mid-January, according to SMU’s interactive pricing tool.
And Nucor had in prior months announced that it was keeping plate prices flat.
But with raw materials prices surging (e.g., pig iron) or expected to surge (e.g., scrap), domestic sheet and plate mills have been either publicly announcing price hikes, quietly rolling them out to individual customers, or preparing the ground for future price hikes.
Costs are sharply higher because of the supply disruptions caused by Russain forces invading Ukraine and the the ensuing war there. Both nations are important in the iron and steel supply chain.
By Michael Cowden, Michael@SteelMarketUpdate.com

Michael Cowden
Read more from Michael CowdenLatest in Steel Mills

CRU: Interest in AHMSA is growing
Representatives of at least six companies interested in acquiring AHMSA have reportedly begun to carry out physical inspections of the insolvent company’s assets.

USW urges Algoma to diversify product line as $500M lifeline meets wider Q3 losses
The United Steelworkers (USW) is pushing for transparency after Algoma Steel announced earlier this week that it has received CA$500 million in financing from the Canadian government.

Oregon Steel Mills lifts plate prices by $60/ton
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.

Algoma speeds up EAF transition, shifts focus to supplying mostly plate to Canadian market
Upended by the Trump regime's tornado of tariffs, Algoma Steel is pivoting on its cross-border business model, shifting its focus to supplying the Canadian market.

White House confirms use of ‘golden share’ to intervene at Granite City: Report
The White House confirmed it stepped in to block the halting of steel processing at U.S. Steel’s Granite City Works in Illinois, according to media reports.