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
Read more from Michael CowdenLatest in Steel Products Prices North America
September Import Share of US Sheet and Plate Markets
Imported sheet and plate products arrived at US ports at a slower clip in September, accounting for a lower share of the domestic market for the third straight month. That’s according to a Steel Market Update analysis of import data from the US Commerce Department and domestic shipment figures from the American Iron and Steel […]
US Apparent Steel Supply Falls Further in September
US apparent steel supply eased further in September, down 8% from August to 8.29 million net tons, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI). As the lowest monthly figure since February 2021, this was a 19-month low. September supply was 10% below the average monthly rate […]
Northwest Pipe Reports Sharply Higher Q3 Results
Engineered pipe and tube producer Northwest Pipe Co. posted sharply higher profits for the third quarter ended Sept. 30. The Vancouver, Wash.-based company said the boost was driven by strong demand and increasing backlogs from its engineered pipeline systems and precast products, according to earnings data released on Tuesday, Nov. 8 All told, Northwest Pipe posted net […]
SMU Price Ranges: Flat-Rolled Steel Falls (Yet Again)
Sheet prices fell across the board again this week as the slow grind lower that we’ve seen since last spring continued to gain speed. Hot-rolled coil prices fell $30 per ton ($1.50 per cwt) week-over-week. Declines in coated products were more pronounced, with cold rolled down $55 per ton, galvanized down $35 per ton, and […]
US Steel Exports Slip 10% in September
US steel export volumes shrunk 10% from August to September, according to the latest US Commerce Department data. 723,000 net tons of steel products exited the country during the month, now the fourth-lowest monthly export rate over the past year and a half. Recall that exports levels in August were at the third-highest monthly rate […]