Steel Mills
Nucor Lowers Plate Prices by $140/Ton
Written by Laura Miller
November 30, 2022
After two months of maintaining plate prices, Nucor Corp. announced it will be lowering plate prices with the opening of its January order book.
In a letter to customers, the Charlotte, N.C.-based steelmaker said prices for as-rolled discrete plate, normalized plate, and quench & tempered plate will all be decreasing by $140 per net ton, effective Nov. 29.
Published adders and extras will continue to be applied, and the company reserves its right to review and re-quote any unconfirmed offers, the letter states.
Nucor last lowered prices for discrete and normalized plate by $120 per ton in September for its November order book.
SMU’s market check this week put discrete plate prices at an average of $1,550 per ton ($77.50 per cwt), FOB mill. The price is down 2.5% from $1,590 per ton one month ago and down 20% from an all-time high of $1,940 per ton in May of this year, according to SMU’s interactive pricing tool.
The move was not unexpected, as some discounting has been reported in recent weeks and demand has been lackluster with buyers remaining on the sidelines, according to SMU’s latest plate market report.
By Laura Miller, Laura@SteelMarketUpdate.com
Laura Miller
Read more from Laura MillerLatest 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).