Steel Prices

Nucor again aims to keep plate prices flat

Written by David Schollaert

September 4, 2024

Nucor intends to keep plate prices unchanged with the opening of its October order book, according to a letter to customers dated Wednesday, Sept. 4.

The Charlotte, N.C.-based steelmaker said it would maintain prices set in its July 1, 2024, price letter.

The announcement indicates that Nucor will keep plate prices at $1,075 per short ton (st), the price it specified in early July. Nucor has now held plate tags unchanged since slashing prices by $125/st on July 1.

There had been speculation that Nucor might lower plate prices, especially given bearish sentiment and lower demand. But following steady sheet price gains, some wondered if Nucor would instead seek to keep plate tags flat, especially given that most sources agree lower tags would not entice buying.

SMU’s plate price stands at $960/st on average, down $20/st from a week ago. Our HR price is at $690/st on average, down $10/st from a week earlier – but up $55/st from a recent low of $635/st in late July. That information comes from our pricing archives, which you can find here.

Also, you can track mill price announcements here.

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

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