SSAB Hikes Plate Price by Another $50

SSAB Americas has announced another price increase on steel plate, informing customers Friday, Oct. 16, that it has increased transaction prices by a minimum of $50 per ton effective on all new non-contract orders.

SSAB said the increase applies to As-Rolled Mill Plate, Cut-To-Length Plate >72”, Hot Rolled Coils >72”, Normalized Plate and Quenched & Tempered Plate. All published extras and regional freight premiums continue to be applied.

Additionally, SSAB has begun accepting non-contract orders for December shipment.

This is the second price increase for SSAB since Sept. 29 when it announced a similar $50 hike. ArcelorMittal and Nucor also announced increases on plate at that time.

Steel Market Update’s latest check of the market puts the average plate price at $635 per ton, little changed in the past two weeks, which may help explain why SSAB is doubling down in hopes of “maintaining fair market value for SSAB products.”