Steel Products Prices North America

SSAB Ups Ante on Nucor, Evraz; Lifts Plate Prices $80/Ton
Written by Michael Cowden
March 1, 2021
SSAB has increased plate prices by $80 per ton ($4/cwt) for U.S. customers and C$100 per ton for customers in Canada.
The price hike is effective immediately and applies to all new non-contract orders of as-rolled mill plate, cut-to-length plate more than 72 inches wide, hot rolled coils more than 72 inches wide, normalized plate and quenched-and-tempered product, the steelmaker said in letters to customers on Monday, March 1.
SSAB said in addition it would apply published extras, regional freight premiums and a standard “scrap collar” for quotations that require firm pricing over an extended period.
“SSAB Americas reserves the right to re-quote any open offers not confirmed by an SSAB order acknowledgement,” the company said.
SSAB Americas is a subsidiary of Swedish steelmaker SSAB. It operates plate mills in Montpelier, Iowa, and Mobile, Ala.
SSAB’s price increase follows $70-per-ton price hikes announced by Nucor and Evraz last week. SSAB had been expected by market participants to follow its competitors higher this week. It was not immediately clear why SSAB might have taken the previously announced increases and raised the ante by $10 per ton.
Steel Market Update’s average plate price stands at $1,070 per ton, up 5.4% from $1,015 per ton in early February and up 22.3% from $875 per ton at the beginning of the year.
By Michael Cowden, Michael@SteelMarketUpdate.com

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

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.

Nucor spot HR list price unchanged at $875/ton
Nucor kept its weekly list price for hot-rolled (HR) coil unchanged this week, following a price bump of $10 per short ton (st) last week.

SMU price ranges: Flat-rolled balloon continues to leak
Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.