Nucor keeps plate prices flat
US steelmaker Nucor has kept its plate prices flat.
The electric arc furnace (EAF) steelmaker kept its ex-works prices flat at $1,480/short ton (st) and is now accepting orders for March, according to a 26 January letter from the company.
The move is contrary to a price increase made by Nucor's competitor SSAB Americas last week, which raised its delivered prices by $60/st on 18 January.
The Argus US plate ex-works assessment was at $1,464/short ton (st) on 24 January, lower than Nucor's price target. Nucor's ex-work plate price offers rose to a top line of $1,910/st in April and May 2022, and have since declined through multiple price decreases.
The company is ramping up its new 1.2mn st/yr plate mill in Brandenburg, Kentucky, which it expects to produce 500,000-600,000st this year and hit a full run rate by year's end.
Related news posts
Business intelligence reports
Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.
Learn more