Steel Products Prices North America

Evraz Follows Nucor, Increases Plate Prices by $70/Ton

Written by Michael Cowden

February 25, 2021

Evraz North America has followed Nucor in increasing plate prices by at least $70 per ton ($3.50/cwt).

The steelmaker said that the increase–$90 CAD for customers north of the border–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 letters to customers on Feb. 25.

steel plate“We reserve the right to re-quote any offers that have not been confirmed,” Evraz NA said in the letter.

The move means Evraz has increased prices by $150 per ton over the last month. The company on Jan. 26 announced a price hike of $80 per ton.

Other steelmakers are likely to follow Nucor and Evraz, although some might wait until next week to announce higher prices, market participants said.

Steel Market Update’s average plate prices stands at $1,070 per ton, up $60 per ton from late January.

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

Michael Cowden is managing editor for Steel Market Update. Cowden has covered the steel industry since 2007. He has since 2014 specialized in flat-rolled steel but has previously reported on steel long products, steel pipe and tube as well as aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago - where he was involved in launching AMM's daily hot-rolled coil index, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

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