Steel Products
SSAB, Evraz Follows Nucor and Increase Steel Plate Prices $100-150/ton
Written by Michael Cowden
May 20, 2021
SSAB Americas and Evraz North America have followed Nucor in increasing plate prices by at least $100-150 per ton ($5-7.50/cwt).
Both steelmakers said their price hikes were effective immediately in letters to customers dated Thursday, May 20.
SSAB said the $100-per-ton increase applied to as-rolled mill plate and coil as well as to cut-to-length plate more than 72 inches wide.
The $150-per-ton price hike is aimed at heat-treated products, including normalized plate and quenched-and-tempered plate, the company said.
Evraz structured its price hike in a similar fashion. The $100-per-ton increase applied to all carbon and high-strength low-alloy plate as well as to hot-rolled coil. The $150-per-ton price is for normalized and quenched-and-tempered products, the company said.
SSAB’s and Evraz’s price hikes follow a leading move announced by Nucor on Wednesday, May 19.
Other steelmakers had been widely expected to follow Nucor, market participants said.
Steel Market Update’s benchmark plate price stands at $1,390 per ton, up 19.8% from $1,160 per ton a month ago and up 58.9% from $875 per ton at the beginning of the year.
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.
SSAB Americas, a subidiary of Swedish steelmaker SSAB, operates electric-arc furnace (EAF) plate mills in Montpelier, Iowa, and Mobila, Ala.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Products
CRU: Excessive global supply could hit rebar mill investments in US
Following the onset of the war in Ukraine in March 2022, concerns about import availability and expectations of rising demand from President Biden’s Infrastructure Bill pushed US rebar prices to record highs. In response, a flurry of new mills and capacity expansions were announced to meet the rise in demand from growth in the construction […]
Steel buyer spirits tempered by soft spot market conditions
Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.
CRU: US stainless prices to rise on expanded S232 tariffs
Stainless prices in the US market will rise, following price increases by major US producers. Our base case scenario incorporates higher US prices in the near term, despite the initial negative reaction by the market. US stainless prices will go up in 2025 H2 and will stay elevated in 2026 as tariffs on stainless […]
Galvanized steel demand unsteady amid lingering buyer fatigue: HARDI
Uneven demand for galvanized steel in June reflects a market that remains mired in uncertainty, according to industry sources.
OCTG industry salutes Customs for catching trade crooks
The US OCTG Manufacturers Association is commending US Customs for intercepting another Thai company's attempt to illegally transship Chinese oil pipe to the US.