Nucor Corp. will keep plate prices unchanged with the opening of its July order book. The sideways move by the steelmaker comes after it increased plate prices in March and April, by $50 per ton ($2.50 per cwt) and $40 per ton ($2.00 per cwt), respectively, according to SMU’s steel mill price increase calendar.
The Charlotte, N.C.-based steelmaker said the move was effective on May 25, according to a letter to customers, adding that it would be maintaining its prices set back on its April 19, 2023, price letter.
The notice applies equally to rolled, normalized, quench, and tempered plate products. 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.
“We reserve the right to review and requote any offers that are not confirmed with either a Nucor sales acknowledgment or written acceptance by both parties,” the company said.
SMU’s latest check of the market on May 23 put discrete plate prices at an average of $1,515 per ton ($75.75 per cwt), FOB mill. The price was down $20 per ton vs. the prior week. The top end of our range continues to reflect Nucor’s published price.
By David Schollaert, firstname.lastname@example.org
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