Nucor aims to increase plate prices by $30/ton

Nucor plans to increase prices for steel plate by $30 per short ton (st). The move coincides with Charlotte, N.C.-based steelmaker opening its plate orderbook for January.

Nucor also said the increase would apply to all new orders not confirmed by the close of business on Monday, Nov. 24, in a letter to customers dated the same day.

“We reserve the right to re-quote any order not confirmed by an order acknowledgement,” the company added.

The latest price hike comes after Nucor – one of the leading plate mills in the US – announced a price hike of $60/st in late September. Other mills at the time announced price hikes of the same amount.

SMU’s price for steel plate currently stands at $1,015/st on average. That’s up $55/st from a fall low of $960/st recorded on Sept. 23, according to our interactive pricing tool. We will next update prices on Tuesday, Nov. 25.

Michael Cowden

Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

Michael Cowden

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