Nucor Slashed-Off its Discrete Plate Prices

Nucor, an Electric arc furnace (EAF) steelmaker, has reportedly reduced its discrete plate prices by $140 per short ton (st). The company had previously set these prices at $1,390/st ex-works for material that ranges between 72-120 inches in width and 3/8-2 inches in thickness. It's mentioned that Nucor is now accepting orders for production in December.

From the start of the year, the discrete plate price assessment has seen a decline of 3.4%, standing at $1,405/st. It's observed that plate prices are significantly higher than hot-rolled coil (HRC), priced at $800/st. Historically, the pricing for both products tended to be more aligned.

Nucor attributes its decision to reduce plate prices to several factors. The company pointed out an influx of "imported, higher carbon emissions product" and also the competitive pricing from local competitors. The US Department of Commerce provided preliminary data indicating a 13% rise in cut-to-length plate imports in September, reaching 46,100 metric tonnes. This surge is especially noticeable when comparing imports from Canada from the previous year. The total cut-to-length plate products imported by the US until September reached 448,300 metric tonnes, marking a 23% increase from the year before.

Additionally, normalized plate prices were reduced by $140/st, settling at $1,590/st. The quench and tempered plate also saw a price drop of $80/st, bringing it down to $2,305/st.

According to the article by Procurement Resource, Nucor, an EAF steelmaker, has slashed its discrete plate prices by $140/st, bringing the price to $1,390/st for specific sizes. This price adjustment comes amid a 3.4% decline in discrete plate price assessment since the year's beginning, and a notable difference in pricing compared to hot-rolled coil at $800/st.

Nucor cites reasons such as an influx of imported high carbon emissions products and local competition. Data from the US Department of Commerce indicates a 13% rise in cut-to-length plate imports in September. Additionally, other plate prices, including normalized and quench and tempered plates, have also seen reductions.