SSAB, Nucor, ArcelorMittal Hike Plate Spot Price by $50

“SSAB continues to monitor market conditions in order to better realize the value our products bring to our customers,” the letter states. SSAB Americas is producer of steel plate and coil with EAF mills in Mobile, Ala., and Montpelier, Iowa, with a combined annual production capacity of 2.4 million metric tons.

Likewise, the Nucor Plate Group said that, effective immediately, it will increase transaction prices on all new orders for carbon, alloy and heat-treated plate by $50 per ton, in addition to previously announced increases. Nucor is North America’s largest steel producer.

ArcelorMittal followed suit with this announcement: “Effective immediately with all new orders, we will be increasing transaction prices by a minimum of $50 per ton for as-rolled Carbon & Alloy Plate and $50 per ton for heat-treated Carbon & Alloy Plate. This increase applies to all non-contractual carbon, HSLA, alloy, heat-treated, and specialty plate products. We reserve the right to re-quote any open offers that are not presently confirmed with an ArcelorMittal order acknowledgement. Our published book extras will apply for all business.”

Plate steel buyers told SMU that only a fraction of the $130 per ton total has actually been collected. A plate distributor, when asked about the announcements, told SMU, “Way too soon to tell. Need all lead times to get into January. I would say $40 for sure of the $130, and they will try to get another $40 immediately. The last $50 is up for grabs.” This steel plate buyer went on to say, “Resale is WAY WAY under replacement, so no buyers as yet.”