Nucor, SSAB raise plate prices

US platemakers Nucor and SSAB Americas increased their plate prices this morning.

Nucor raised its ex-works as-rolled plate prices by $50/short ton (st) to a minimum of $1,530/st and opened up its May order book, according to a price announcement.

The company raised prices for normalized and quench and tempered plate products by the same amount.

Its the first price increase Nucor has made since March 2022, when it increased as-rolled prices by $55/st to $1,910/st.

Up until today's announcement, Nucor had cut its ex-works plate pricing by $430/st, a 23pc decline.

SSAB Americas raised its as-rolled, normalized, quench and tempered, and wide cut to length products by $80/st. The increase is effective immediately on all new spot orders confirmed to ship the week of 4 June and beyond.

The company has not yet opened up its June spot order book. This is the third price increase for SSAB Americas, which has raised prices by $200/st since 18 January.

The Argus US plate ex-works assessment has been relatively flat at around $1,480/st since early December.

By Rye Druzin