Steel Products Prices North America
Nucor Raises Plate Prices $55-120/ton With Opening of May Book
Written by Michael Cowden
March 31, 2022
Nucor aims to increase plate prices by between $55 per ton ($2.75 per cwt) and $125 per ($6.25 per cwt) depending on the product.
The Charlotte, N.C.-based steelmaker said the price hike was effective with new orders received on Thursday, March 31, in a letter to customers dated the same day.
The company made the announcement with the opening of its May orderbook for plate.
The $55-per-ton price increase applies to as-rolled and normalized plate. Quenched-and-tempered product is up $100 per ton. And cut-to-length material is up $125 per ton, Nucor said.
“All published adders/extras will be applied,” the company added.
Nucor also increased prices in early March by a comparatively modest $40 per ton with the opening of its April orderbook.
Plate prices were high at the beginning of the year and – unlike sheet prices, which collapsed in January and February – have remained so.
SMU’s plate price stands at $1,845 per ton, up 2.2% from $1,805 per ton in late February and up 2.8% from $1,795 per ton at the beginning of the year.
Some market participants questioned whether plate demand justified a potentially big increase in prices.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Products Prices North America
CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]