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
Cliffs CEO reassures of Dearborn restart goal as UAW rallies to ‘Save the Rouge’
“We are committed to bring the hot-end back to full operation. The goal is to bring back to work all employees of the currently idled units as soon as we can," Chairman, President, and CEO Lourenco Goncalves said in a letter to colleagues on Wednesday.
USS Clairton Coke Works reports explosion
U.S. Steel’s Clairton Coke Works experienced a powerful blast at 10:51 a.m. local time on Monday. First reports suggest the explosion sparked a destructive fire at the site.
Nucor lowers HR coil spot price by $15/ton
Nucor has implemented a double-digit price decrease on spot hot-rolled (HR) coil for the second consecutive week.
Hot-rolled coil market remains slow, market participants say
Hot rolled spot market participants reported another week of moderate demand and ample supply, with no strong signs that conditions will change next week.
CRU: Blackout knocks out ArcelorMittal mill ‘for months’
Truchas works in Lazaro Cadenas, Michoacan, western Mexico. Repairs may take up to six months.