Steel Mills
Nucor Lowers Plate Prices by $40/t
Written by David Schollaert
September 5, 2023
Nucor Corp. will lower plate prices by $40 per ton ($2 per cwt) with the opening of its October order book. The decrease comes after the steelmaker has held prices unchanged since May, according to SMU’s steel mill price increase calendar.

The Charlotte, N.C.-based steelmaker said the move was effective on Sept. 1, according to a letter to customers.
The notice applies equally to rolled and normalized 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 Aug. 29 put discrete plate prices at an average of $1,455 per ton ($72.75 per cwt), FOB mill. The price was down just $5 per ton vs. the prior week. The top end of our range is expected to come down with today’s pricing to reflect Nucor’s updated published price.

David Schollaert
Read more from David SchollaertLatest in Steel Mills

Algoma fires up EAF steelmaking with first arc
Algoma Steel reached a milestone in its transformation from blast furnace to electric arc furnace (EAF) steelmaking, with its Unit One EAF achieving its first steel production this week.

Nucor holds HR list price at $910/ton
Nucor is keeping its list price for spot hot-rolled coil unchanged after last week’s shortened holiday week.

Cliffs unveils new hydrogen-powered stainless line in Ohio
CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.

Cliffs idles Steelton, Riverdale, and Conshohocken operations
Cliffs has idled facilities in Riverdale, Ill., and Conshohocken and Steelton, Pa.

Radius loss narrows, volumes climb in ‘healthy’ West Coast market
Stronger steel demand in the Western US, rising scrap flows, and improved rolling mill utilization drove sequential gains for Portland, Ore.-based Radius Recycling.