Steel Products

Nucor raises plate prices by $40/ton, cites market conditions

Written by David Schollaert

February 4, 2025

Nucor Corp. announced that its plate mill group was raising prices for as-rolled, discrete, cut-to-length, and normalized plate “in response to current market conditions.”

The Charlotte, N.C.-based steelmaker said in a letter to customers on Tuesday, Feb. 4, after market close, that it would be seeking an increase of $40 per short ton (st).

Nucor said the increase was effective with orders confirmed as of Feb. 4.

The latest increase comes after Nucor raised its plate prices on Jan. 27, by $60/st with the opening of its March order book.

No clarity on the base price for as-rolled and cut-to-length products was given, but in theory, the increase brings its base to $1,075/st. The target base prices for normalized, quench and tempered, are $1,275/st and $2,445/st, respectively.

SMU’s plate price stands at $910/st on average, up $10/st from a week ago. Our HR price is at $725/st on average, up $25/st from a week earlier, according to SMU’s interactive pricing tool, which you can find here.

Also, you can track mill price announcements here.

David Schollaert

David Schollaert is deputy editor-in-chief 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. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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