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
Cliffs forecasts 2025 rebound after Q3’s weakest demand since Covid
The negative impact of high interest rates on consumer behavior, particularly in the automotive and housing sectors, was the primary driver of the demand weakness seen across the third quarter, according to Cleveland-Cliffs executives.
Cliffs swings to $242M loss in Q3, expects early 2025 demand rebound
Cleveland-Cliffs swung to a steep loss in the third quarter. However, it touted the recent closing of its acquisition of Stelco in its quarterly earnings report released on Monday and said steel demand should bounce back early next year.
AISI: Raw steel production stumbles
Following three consecutive weekly increases, raw steel production in the US slipped last week to the third-lowest level recorded this year.
Cleveland-Cliffs closes on acquisition of Stelco
Canada’s Stelco Holdings Inc. is now officially owned by Cleveland-Cliffs Inc.
Grupo Simec ‘explosion’ kills at least a dozen people
A spill of liquid steel at a Grupo Simec facility in central Mexico has killed at least 12 workers.