Steel Is SIGNALING That Demand Is UNDER PRESSURE - NUCOR has a reputation of being a SAVY steelmaker Nucor drops plate prices by $40/st
Electric arc furnace (EAF) steelmaker Nucor has dropped its plate prices by $40/short ton (st).
The company is now offering discrete plate pricing at $1,530/st ex-works, according to a price announcement on 31 August.
Normalized plate pricing also fell by $40/st to $1,730/st.
One plate service center called the move a "total head scratcher," and wondered why the company did not go sideways as it has in prior months.
The steelmaker had kept plate prices flat each month between June and August.
The Argus US plate ex-works assessment has been flat at $1,570/st since late-April, as Nucor and other platemakers Cleveland-Cliffs and SSAB have held pricing flat in the face of declining hot-rolled coil (HRC) prices.
HRC prices have dropped by 35pc in the same time period {4+ months} to $750/st ex-works on 29 August.
By Rye Druzin
https://www.argusmedia.com/en//news/2485474-nucor-drops-plate-prices-by-40st?backToResults=true
- it is AMAZING that the PLATE SEGMENT is holding SO STRONG (at MORE THAN TWICE the pricing per short ton although it is a DIFFERENT MARKET with LESS COMPETITION and suppliers} relative to the HOT-ROLLED COIL (HRC) steel segment
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