Electric arc furnace (EAF) steelmaker Nucor has reduced its plate prices by $40/short ton (st), offering discrete plate pricing at $1,530/st ex-works. Normalized plate pricing also fell by $40/st to $1,730/st.
The move has been criticized by some plate service centers as a "total head scratcher." Nucor had kept plate prices flat each month between June and August, as Cleveland-Cliffs and SSAB have maintained pricing flat due to declining hot-rolled coil (HRC) prices. HRC prices have dropped by 35pc in the same period.