Nucor, SSAB Hike Plate Prices by $80 Per Ton

The new base price for quenched-and-tempered A514 Grade is $1,270 per ton, up from $1,190 per ton in early January. And Nucor’s new base price for normalized A516-70 material is $1,150 per ton, up from $1,070 per ton previously.

“All published adders/extras will be applied,” Nucor said. The steelmaker also said it was not yet accepting orders for April.

SSAB likewise wants to raise plate prices by at least $80 per ton on all new non-contract orders effective immediately.

The move applies equally to as-rolled mill plate, to cut-to-length plate more than 72 inches wide, to hot-rolled coils more than 72 inches wide, as well as to normalized and quenched-and-tempered material, the company said in its letter to customers Tuesday.

The price hike also coincides with SSAB opening its March order book for spot orders. April remains closed for non-contract business, SSAB said.

“As always, SSAB Americas remains committed to providing a superior product offering at competitive market prices,” the letter said.

Both mills have rung in the New Year with sharply higher prices. Nucor has announced price increases totalling $220 per ton since the beginning of the month. SSAB has rolled out price hikes totalling $180 per ton over the same period.

It’s too early to say whether the latest price hikes will stick. Steel Market Update’s average plate price stood at $1,010 per ton on Tuesday, unchanged from the week prior.

By Michael Cowden, michael@steelmarketupdate.com