Nucor, a major steelmaker, has decided to keep its plate prices unchanged for July, following the same pricing as last month. This decision impacts carbon, normalized, and quenched-and-tempered steel products, with base prices remaining at $1,475 and $2,645 per short ton respectively.
This price stability comes after four consecutive price increases between January and March, totaling $300/st. However, the overall market shows a different trend. According to Steel Market Update (SMU), the average plate price is currently $1,125/st, down $85/st from its peak in April. Nucor's decision to maintain pricing contrasts with the recent market erosion.
Nucor's letter to customers clarifies that the listed prices are subject to review if not confirmed with a sales acknowledgment or written acceptance from both parties. The company's sustained pricing strategy in the face of market downturns is a key point to consider for industry analysis.
Nucor aims to keep plate prices flat again with the opening of its July order book.
The Charlotte, N.C.-based steelmaker said it was maintaining last month’s price, effective with new orders received on Friday, May 23, in a letter to customers dated the same day.
The company said pricing applied equally to carbon, normalized, and quenched-and-tempered products.
Nucor said its base price for normalized and quenched-and-tempered plate is $1,475 and $2,645 per short ton (st), respectively.
“We reserve the right to review and re-quote any offers that are not confirmed with either a Nucor sales acknowledgment or written acceptance by both parties,” the company said in the letter.
Nucor has held plate prices unchanged for the past two months after four consecutive increases from January to March, which totaled $300/st, according to SMU’s mill price announcement calendar.
SMU’s plate price stands at $1,125/st on average as of May 20. Plate prices have been steadily eroding, now down $85/st since reaching a recent high of $1,210/st in early April, according to SMU’s interactive pricing tool, which you can find here.
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