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
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