Steel Mills

SSAB, Nucor Raise Plate Price by $40 Per Ton

Written by Tim Triplett

SSAB Americas and Nucor both announced a $40 per ton increase in the price of plate products this week.

SSAB Americas informed customers on Monday, Oct. 22, that it is increasing transaction prices on plate products by a minimum of $40 per ton, effective immediately for all non-contract orders acknowledged for shipment the week of Dec. 30 and beyond.

The increase will apply for As-Rolled Mill Plate, Cut-To-Length Plate >72”, Hot Rolled Coils >72”, as well as Normalized and Quenched & Tempered Plate. All extras will be applied as published.

“SSAB continues to monitor market conditions in order to better realize the value our products bring to our customers,” the company said in its letter.  

SSAB’s last announcement on plate was March 14, when it raised prices by $50 per ton.

The Nucor Plate Group announced today, Oct. 23, that it also is raising transaction prices on carbon and alloy plate and heat-treated plate by $40 per ton. The increase takes effect immediately on all new orders promised on or after Jan. 1, 2019. All published extras will be applied. Nucor’s last price hike on plate was a $50 increase announced Feb. 14.

The change in the plate price follows on the increase announced Oct. 10 by Nucor’s Sheet Mill Group raising the price of hot rolled, cold rolled and galvanized products by $40 per ton.

Domestic plate mills have been on controlled order entry for months with lead times extended to 6-10 weeks as demand has outpaced supply. Plate prices have been relatively stable (see chart below), compared to flat rolled prices, which have been on the decline since this summer. However, Steel Market Update data showed plate prices slipping by about $10 last week to an average around $995 per ton.

Latest in Steel Mills