Evraz North America (NA) has followed Nucor in increasing plate prices by at least $140 per ton ($7/cwt).
The steelmaker said that the increase was effective immediately and that it applied equally to all carbon, high-strength low-alloy, hot-rolled coil, normalized, and quenched-and-tempered products, according to a letter to customers Jan. 6.
“We reserve the right to re-quote any offers that have not been confirmed,” Evraz NA said in the letter.
Evraz NA, based in Chicago, is a subsidiary of Russian steelmaker Evraz. It operates a plate mill in Portland, Ore., the only one of its kind in the western United States and Canada, according to the company’s website.
The plate price increase comes on the heels of January scrap prices settling up $100 per gross for prime grades and up $90 per ton on cut, shredded and obsolete material. It also comes after hot-rolled coil prices shot above $1,000 per ton for the first time since 2008.
Plate prices had already been moving higher following a round of mill price hikes in December. Case in point: Steel Market Update’s plate price stood at an average of $880 per ton as of Tuesday, Jan. 5, up $120 per ton from an average of $760 per ton in early December and up $290 per ton from a summer low of $590 per ton in July and August.
By Michael Cowden, firstname.lastname@example.org
Michael CowdenRead more from Michael Cowden
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