SMU was advised over the weekend that Nucor had raised spot plate pricing by $30 per ton.
On Monday, SSAB followed the Nucor lead by providing a letter to their customers advising them, “Please be advised that effective immediately SSAB Americas is raising the transaction price for all non-contract As-Rolled Mill Plate, Cut-To-Length Plate >72”, Hot Rolled Coils >72” as well as Normalized and Quenched & Tempered Plate by a minimum of $30 per ton.”
SSAB advised their customers that the mill reserves the right to re-quote open offers that have not been confirmed by the mill. The mill also advised they were monitoring market conditions, “…in order to better realize the value our products bring to our customers.”
In other words SSAB customers should anticipate that further announcements may be coming depending on the market’s acceptance to this initial increase.
John PackardRead more from John Packard
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