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

SMU Price Ranges: Sheet and plate steady ahead of Independence Day
Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.

Nucor maintains plate prices, opens August order book
Nucor aims to keep plate prices flat again with the opening of its August order book.

Nucor CSP remains level at $900/ton
Nucor maintained its weekly list price for hot-rolled (HR) coil this week, following two consecutive increases.

Cliffs raises prices, seeks $950/ton for July spot HR
Cleveland-Cliffs plans to increase prices for hot-rolled (HR) coil to $950 per short ton (st) with the opening of its July spot order book. The Cleveland-based steelmaker said the price hike was effective immediately in a letter to customers dated Monday.

HRC vs. prime scrap spread widens in June
The price spread between HRC and prime scrap widened in June.