Steel Mills
Nucor cuts plate prices by $100/ton, cites market conditions
Written by David Schollaert
October 30, 2024
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, cut-to-length, and normalized plate with the opening of its December order book.
The Charlotte, N.C.-based steelmaker said in a letter to customers on Tuesday evening, Oct. 29, that tags would be lowered by $100 per short ton (st), bringing its base price to $975/st. That’s the first decrease since it slashed tags by $125/st on July 1.
The company suggested the price cut was to stay competitive, adding that it was due to market conditions and to provide customers with “pricing transparency.”
“We will continue to monitor the levels of import arrivals and other market activity to ensure our pricing remains competitive in the market,” the letter said.
Nucor said the decrease was effective immediately. The price for normalized plate decreased to $1,175/st, it said in a revised letter Wednesday morning.
Absent from the steelmaker’s pricing notice letter was any pricing on quenched-and-tempered products. However, Nucor noted quenched-and-tempered at $2,345/st on its price list sheet.
SMU’s plate price stands at $895/st on average, down $10/st from a week ago. Our HR price is at $685/st on average, unchanged from a week earlier – up just $50/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
Read more from David SchollaertLatest in Steel Mills
Hybar lowers output forecast, owning up to EAF startup delay
Hybar LLC’s rebar mill in Osceola, Ark., is now melting scrap and will soon be fulfilling orders, according to CEO David Stickler, despite a six-to-eight-week delay caused by commissioning the world’s first Aura electrical system.
Steel Dynamics guides to more metal, more money in Q3
Steel Dynamics Inc. is bullish heading into the close of the third quarter, with all three of its operating segments tracking higher.
AHMSA opens doors to potential buyers as $1.3B asset auction nears
AHMSA is opening its doors to potential buyers to tour its steel plant and mining operations in northern Mexico in preparation for the next stage of its bankruptcy process: the auction of its assets.
USW seeks clarity on USS plans for Granite City Works
The United Steelworkers union has asked U.S. Steel to elaborate on its Granite City Works plans following reports that the steelmaker is ending processing at the facility.
Nucor maintains plate prices, opens October order book
Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.