On Wednesday morning SSAB informed their customers of their intention to increase transaction prices by $50 per ton ($2.50/cwt) “effective immediately on all new non-contract orders.” Later in the day Nucor Plate Mill Group followed the SSAB lead and also increased their spot prices on carbon, alloy and heat-treated plate by $50 per ton.
Where the two increase announcement diverge is the SSAB letter also flags any greater than 72” hot rolled coils for the increase right along with their As-Rolled Mill Plate, Cut-to-Length Plate >72, as well as Normalized and Quenched & Tempered Plate.It is expected that ArcelorMittal and Evraz will follow along with plate price increases of their own.
Steel Market Update spoke with a couple of plate customers who advised us that the new “target” base price for plate was $32.00/cwt-$32.50/cwt ($640-$650 per ton).
Over the past six weeks domestic (USA) plate mills have increased prices four times and by a total of $190 per ton.
In the past Steel Market Update has seen plate price announcements made just prior to new flat rolled announcements. If the trend holds true then buyers should expect a flat rolled price increase announcement that could come at any moment.
John PackardRead more from John Packard
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