Sheet
January 27, 2025
Nucor raises plate prices by $60/ton
Written by David Schollaert
Nucor Corp. announced that its plate mill group was raising prices for as-rolled, discrete, cut-to-length, and normalized plate with the opening of its March order book.
The Charlotte, N.C.-based steelmaker said in a letter to customers on Monday morning, Jan. 27, that it would be seeking an increase of $60 per short ton (st).
Nucor said the increase was effective immediately.
While Nucor gave no clarity on the base price for as-rolled and cut-to-length products, they said target base prices for normalized, quench and tempered, were $1,235/st and $2,405/st, respectively.
In theory, the increase could bring its base price to $1,035/st, since its last reported price was $975/st, when it slashed tags by $100/st on Oct. 29, 2024. It had maintained tags at that level since.
This, however, would be a nearly $200/st price bump, if accepted by buyers, as prices had been just late last week ranging in the mid to upper $800s.
SMU’s plate price stands at $845/st on average, down $5/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.
