Steel Prices
Nucor increases plate prices by $160/ton
Written by Michael Cowden
February 24, 2025
Nucor aims to increase prices for steel plate by $160 per short ton (st) with the opening of its April order book.
The Charlotte, N.C.-based steelmaker said the increase was effective with new orders received on Monday, Feb. 24, in a letter to customers dated the same day.
The company said the price hike applied equally to carbon, normalized, and quenched-and-tempered products.
“We reserve the right to review and re-quote any offers that are not confirmed with either a Nucor sales acknowledgement or written acceptance by both parties,” the company said in the letter.
Nucor’s $160/st plate price hike comes after the company increased plate prices by $60/st in both early February and late January. All told, Nucor has increased plate price by $280/st in less than a month, according to SMU’s mill price announcement calendar.
Nucor’s price hike also comes after SSAB Americas – another of the major US plate producers – increased plate prices by $100/st last week. SSAB has increased prices by $240/st over the last month.
Flat-rolled steel prices more broadly speaking have surged higher in recent weeks on higher scrap and pig iron costs as well as the threat of Section 232 tariffs of 25% being applied to all imported steel effective March 12.
The Trump administration has also threated to impose blanket tariffs of 25% on nearly all imports from Canada and Mexico effective March 4.
Michael Cowden
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