Steel Products Prices North America
SSAB Americas Up $60/ton on Steel Plate
Written by Michael Cowden
April 21, 2021
SSAB Americas aims to increase plate prices by at least $60 per ton ($3/cwt) on all new, non-contract orders effective immediately.
The steelmaker’s price hike appears to be a leading move, according to market participants.
The price increase applies equally to 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 plate, SSAB said in a letter to customers Wednesday, April 21.
“Published freight extras, regional freight premiums and non-preferred freight mode extras will be applied,” the company added.
The amount of the increase for customers in Canada is $75 CAD per ton, SSAB said in a separate letter to Canadian buyers.
SSAB’s $60-per-ton increase this month comes after the steelmaker tried to increase prices by a combined $180 per ton in March.
It’s not clear whether that entire amount stuck. But Steel Market Update’s average plate price, like prices for other flat-rolled products, continues to move upward and test new record highs.
SMU’s average plate price stands at $1,200 per ton ($60/cwt), up 5.7% from $1,135 per ton a month ago and up 37.1% from $875 per ton at the beginning of the year.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
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