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

ISM: Manufacturing growth down again in April
Activity had trended up for most of Q1

EU HR prices gain ground on US, Asian HR still well behind
Section 232 returned on March 12, and since then, the price gap between offshore and US hot band has tightened.

SMU Community Chat replay now available
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]

SSAB announces $74M expansion in Alabama
The project will expand heat treat capacity at its Axis, Alabama plant

Service centers: Mill orders retreat in March
SMU’s Mill Order Index declined in March after repeated gains at the start of the year, according to our latest service center inventories data.