Nucor Lowers Cut-To-Length Plate, Maintains Discrete Plate Prices

Cut-to-length plate prices are being lowered by $85-125/ton. Plates less than 72 inches wide will see prices drop by $125/ton, while plates 73-84 inches wide will see an $85/ton price decline.

Prices for most gauges of discrete plate are being kept flat.

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In May, with the opening of its July orderbook, the company announced decreases of $100-200/ton for cut-to-length plate and $50/ton for as-rolled and normalized plate.

In the latest letter to customers dated June 13, Nucor said it is still accepting orders for July.

Nucor’s most recent pricing strategy for plate is to make announcements whether prices are up, down, or flat. The company has been doing so consistently since March.

The spread between hot-rolled coil and plate prices continues to be wider than usual, as SMU has reported. HRC prices continue to fall while declines in plate have been much slower.

By Laura Miller, Laura@SteelMarketUpdate.com