Steel Mills
Nucor Keeps Plate Prices Unchanged
Written by David Schollaert
December 29, 2022
Nucor Corp. will keep plate prices unchanged with the opening of its February order book. The move comes after the steelmaker announced a sharp decrease in late November.
The Charlotte, N.C.-based steelmaker said the move was effective on Dec. 28, in a letter to customers.
Published adders and extras will continue to be applied, and the company reserves the right to review and requote any unconfirmed offers, the letter said.
Nucor lowered plate prices by $140 per ton ($7 per cwt) in November for its January order book, and by $120 per ton in September for its November order book.
SMU’s latest check of the market on Dec. 20 put discrete plate prices at an average of $1,440 per ton ($72 per cwt), FOB mill. The price is down 7.1% from $1,550 per ton one month ago and down nearly 26% from an all-time high of $1,940 per ton in May of 2022, according to SMU’s interactive pricing tool.
The move was not unexpected, especially with raw material costs, notably for scrap, expected to move higher in January. Though some discounting is still being reported, demand has been largely quiet with buyers on the sidelines over the holidays.
By David Schollaert, David@SteelMarketUpdate.com
David Schollaert
Read more from David SchollaertLatest in Steel Mills
USW seeks clarity on plans for Granite City Works
The United Steelworkers union has asked U.S. Steel to elaborate on its Granite City Works plans following reports that the steelmaker is ending processing at the facility.
Nucor maintains plate prices, opens October order book
Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.
ArcelorMittal Mexico to import from sister mills as it works to resume DRI production
ArcelorMittal has partially restarted operations at its direct reduction plant in Lazaro Cardenas, Michoacan. An explosion on Aug. 18 rocked the massive steelworks on Mexico’s Pacific coast, impacting production of direct-reduced iron (DRI).
Fall maintenance outages are coming in hot
Labor Day has passed, the sun is starting to set a little earlier each day, and cooler weather has begun to find its way down to many of us across North America. And you know what that means for the steel industry… Fall maintenance outages!
AISI: Domestic steel production ticks up
US raw steel production ticked up in the week ending on Sept. 6 after a decrease the week before, according to the most recent data from the American Iron and Steel Institute (AISI).