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
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
U.S. Steel to halt slab conversion at Granite City Works
U.S. Steel said it plans to reduce slab consumption at its Granite City Works near St. Louis, a company spokesperson said on Monday. The Pittsburgh-based steelmaker will shift the production and processing of steel slabs to its Mon Valley Works near Pittsburgh and its Gary Works near Chicago. Citing a United Steelworkers (USW) union memo, […]
SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.
HR Futures: Market finds footing on supply-side mechanics
As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.
Beige Book: US markets remain cautious amidst volatile pricing environment
Sluggish economic activity across the US was largely attributed to uncertainty caused by tariff policies and growing cost pressures, according to the US Federal Reserve’s (The Fed) latest Beige Book report. The Fed’s latest economic report, posted on Sept. 3, consists of economic findings from the six weeks preceding Aug. 25 throughout 12 districts. Economic […]