Nucor lowers plate prices
Electric arc furnace (EAF) steelmaker Nucor has lowered its plate prices for the first time in at least two years.
On 19 May, the company lowered its ex-works plate prices by $50/short ton (st) to $1,860/st for any new and unshipped orders. Nucor has also opened up its July books for new orders.
US plate prices have broadly risen over the last two years, driven by price increases from Nucor and competitors Cleveland-Cliffs and SSAB.
The Argus US plate ex-works assessment has been relatively flat since the beginning of April around $1,910/st, when prices plateaued after rising for a month in the aftermath of Russia's invasion of Ukraine.
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