US steelmaker Nucor has kept its plate pricing flat, a month after it dropped prices by triple digits.

Steelmaker Nucor rolled its first plate at its new mill in Brandenburg, Kentucky.

Overseas demand for Japanese ferrous scrap is likely to recover in 2023, while stronger domestic consumption and slower scrap generation in the country limit availability for exports.

A year ago the spread was $1,058/st as HRC prices were plunging from record-high levels.

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The domestic demand forecast was cautiously optimistic, according to market sources, led by stronger increased spending for the infrastructure market.

In the week ending on December 31, 2022, US domestic raw steel production was 1,602,000 net tons while the capability utilization rate was 71.8 percent.