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
Read more from David SchollaertLatest in Steel Products
September energy market update
In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels through September. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.
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.