According to a Nov. 8 letter to customers, Nucor Plate Mill has indicated that due to current market dynamics, plate pricing "has fallen to unsustainable levels. Furthermore, raw material prices have continued to increase. This necessitates a reset in the market."
The mill has further announced they will be increasing transaction prices on all new orders for Carbon, Alloy and Heat-Treated Plate, noting that prices for all three products will increase by $2.50 cwt. ($55/mt or $50/nt), effective immediately.