• Skip to main content

    Plate

    October 3, 2022

    Nucor Looks to Keep Plate Prices Unchanged

    Written by Michael Cowden

    Nucor Corp. aims to hold plate prices steady with the opening of its November order book.

    The Charlotte, N.C.-based steelmaker said the flat pricing would be effective Tuesday, Oct. 4.

    “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 in a letter to customers dated Monday, Oct. 3.

    The attempt to keep plate prices unchanged comes after Nucor on Sept. 19 announced a $120-per-ton ($6-per-cwt) price cut on discrete plate.

    SMU’s discrete plate price stood at $1,620 per ton when this article was filed. That’s down 6.1% from $1,725 per ton a month ago and down 16.5% from a 2022 high of $1,940 per ton recorded in May, according to our interactive pricing tool.

    US plate prices nonetheless remain well above prices abroad, and domestic plate lead times continue to be short.

    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.

    Read more from Michael Cowden

    Latest in Plate

    CRU: Global finished steel prices diverge, US the rare bright spot

    CRU: Global finished steel prices have diverged in August, with longs softening while sheet and plate firmed in most regions. Weak construction demand persisted across most longs markets, with the US the notable exception. Higher sheet prices were driven by tightening supply in the US and reduced import attractiveness in Europe, even as APAC sheet prices declined. Plate prices were mostly firmer across APAC, stable to down in Europe, and continued climbing in the US.