Steel Products Prices North America

Evraz Follows Nucor, SSAB in Lifting Plate Prices by $80
Written by Michael Cowden
January 27, 2021
Evraz North America has followed Nucor and SSAB Americas in increasing plate prices by at least $80 per ton ($4/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. 26.
“We reserve the right to re-quote any offers that have not been confirmed,” Evraz NA said in the letter.
The increase, Evraz’s second of the month, means the steelmaker is now seeking $220 per ton more for plate following a $140-per-ton price hike announced on Jan. 6.
Plate mills have been boosting tags in part because they want to restore plate’s typical price premium over hot-rolled coil.
But some market participants question the timing of triple-digit price hikes given that oil-and-gas demand remains weak, that such large gains could make imports more attractive to U.S. buyers, and that high prices could result in some projects being delayed.
Also, while U.S. steel prices are still trending upward, they are no longer doing so in unison.
Case in point: Steel Market Update’s average plate price stands at $1,010 per ton this week, unchanged from last week. SMU’s average hot-rolled coil price is at $1,140 per ton – a new all-time high and a $10-per-ton increase versus the week prior. But this week’s HRC gains pale in comparison to weekly increases of $50-70 per ton recorded earlier in the month.
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.
By Michael Cowden, Michael@SteelMarketUpdate.com

Michael Cowden
Read more from Michael CowdenLatest in Steel Products Prices North America

SMU Price Ranges: HR slips, hopes for Q4 rebound still standing
SMU’s price ranges were mixed again this week as the market continues to seek a floor amid industry hopes for a Q4 rebound.

Nucor’s hot band list price holds at $875/ton
Nucor held its hot-rolled coil list price flat again this week, according to its Monday, Sept. 15 consumer spot price (CSP) notice.

Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.

SMU Price Ranges: Some predict bottom is near as big discounts dry up
Sheet prices were mixed this week as some mills continued to offer significant discounts to larger buyers while others have shifted toward being more disciplined, market participants said.

SMU Price Ranges: Tags mixed as uncertainty weighs on market
SMU’s hot-rolled (HR) coil price held steady this week while prices for other sheet and plate products declined.