Nucor today announced they were officially reducing spot market prices for US domestic plate. Plate spot market prices have spanned widely in the past several weeks, and as of Wednesday morning, the most common transaction range was trending at roughly $63-$68 cwt. ($1,389-$1,499/mt or $1,260-$1,360/nt), FOB mill, depending on order volumes and the mill of origin, although prices above this range had been heard within the marketplace.
Today’s announcement brings prices down on the top end, which puts the new average spot price range at approximately $63.00-$64.50 cwt. ($1,389-$1,423/mt or $1,260-$1,290/nt), FOB mill.