Steel Products Prices North America
SSAB Up $100/ton on Spot Plate Prices
Written by Michael Cowden
June 21, 2021
SSAB Americas aims to increase steel plate prices by at least $100 per ton ($5/cwt) effective immediately on all new spot orders.
The increase applies equally to as-rolled mill plate and coil, cut-to-length plate, normalized plate, and quenched-and-tempered plate, the company said in a letter to customers on Monday, June 21.
“In addition to this announcement, August pricing will be finalized when we open the month for order entry,” SSAB said.
Published extras and regional freight premiums will continue to be applied, the company added.
The price hike is $125 CAD per ton for customers in Canada, according to a separate letter sent to SSAB Canadian customers.
SSAB’s move was a leading one, and other plate mills are likely to follow, market participants said.
SSAB also increased prices by $100 per ton last month. And plate prices, along with sheet prices, have seen astronomical gains this year and continue to test new record highs.
SMU’s benchmark plate price stood at $1,435 per ton ($71.75/cwt) when this article was filed. That’s up 64% from $875 per ton at the beginning of the year and more than double a 2020 low of $590 per ton recorded in August of last year, per SMU pricing archives.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
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