Steel Products
Nucor up $40/ton on plate
Written by David Schollaert
November 29, 2023
Nucor Corp. announced in a letter to customers on Tuesday afternoon that its plate mill group would increase as-rolled discrete plate, normalized, and quenched-and-tempered plate by $40 per ton ($2 per cwt).
The Charlotte, N.C.-based steelmaker said the higher prices would be effective with new orders received on Tuesday, Nov. 28. It also said the move was made in tandem with the opening of its plate mill order book for January 2024.
“We reserve the right to review and re-quote any offers that are not confirmed with either a Nucor sales acknowledgment or written acceptance by both parties.,” Nucor said in the letter.
Nucor’s move comes after SSAB Americas said earlier on Tuesday it was increasing its plate price by $60 per ton. Nucor last announced a $140-per-ton price cut for plate on Oct. 31.
Market chatter amongst SMU plate sources is that Nucor is already planning another $40-per-ton plate price increase for the end of December. Time will tell if it’s just noise or an inside beat.
To keep track of the latest mill price increases, visit SMU’s price increase calendar.

David Schollaert
Read more from David SchollaertLatest in Steel Products

SMU Community Chat replay now available
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]

SSAB announces $74M expansion in Alabama
The project will expand heat treat capacity at its Axis, Alabama plant

Service centers: Mill orders retreat in March
SMU’s Mill Order Index declined in March after repeated gains at the start of the year, according to our latest service center inventories data.

Nucor maintains plate prices
Nucor aims to keep plate prices flat with the opening of its June order book.

US rig count up, Canada declines
Oil and gas drilling activity was mixed this week, according to Baker Hughes. US rig counts expanded for a second straight week, while Canadian activity continued its seasonal slowdown of eight consecutive weeks.