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Electric arc furnace (EAF) steelmaker Nucor is dropping its discrete plate prices by $140/short ton (st).
Nucor set the discrete plate prices at $1,390/st ex-works for 72-120in wide material that is 3/8-2in thick. The company is now taking orders for December production.
The Argus plate ex-works assessment is down by 3.4pc to $1,405/st from the beginning of the year. Plate remains at a large premium to hot-rolled coil (HRC), which is at $800/st. Pricing for the two products usually tracks closer together.
Nucor cited "higher levels of imported, higher carbon emissions product" in addition to lower prices from its domestic competitors for dropping the plate price.
Cut-to-length plate imports increased in September by 13pc to 46,100 metric tonnes (t) from a year earlier on year on higher imports from Canada, according to preliminary data from the US Department of Commerce.
Through September, the US has imported 448,300t of cut-to-length plate products, an increase of 23pc over a year prior.
Normalized plate prices were also lowered by $140/st to $1,590/st while quench and tempered plate was lowered by $80/st to $2,305/st. argusmedia
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