SSAB Americas Increases Plate Prices $150-200/ton

SSAB Americas aims to increase plate prices by $150-200 per ton ($7.50-$10 per cwt) effective immediately.

The $150-per-ton price hike applies to as-rolled mill plate and coil as well as to cut-to-length plate more than 72 inches wide, the steelmaker said in letters to customers on Monday, July 26.

SSAB

The $200-per-ton increase is for all heat-treated products including both normalized plate as well as quenched-and-tempered plate, the company said.

For SSAB customers in Canada, the increases are $185 CAD per ton and $250 CAD per ton.

“Published extras, including regional freight premiums, will continue to be applied, SSAB said.”

“As always, SSAB Americas remains committed to providing a quality product offering at a competitive market price,” the company said.

SSAB’s price hike this week ups the ante on Nucor and Evraz North America, which increased prices by $120-160 per ton last week.

Nucor, SSAB and Cleveland-Cliffs are the three main players when it comes to the U.S. plate market.

Cliffs does not typically announce increases. Market participants said Cliffs is offering plate at approximately $1,700 per ton ($85 per cwt), up roughly $120 per ton from previous offers.

Domestic plate mills have in recent months been announcing triple-digit price hikes.

The result: SMU’s benchmark plate price stands at $1,575 per ton, up 80% from $875 per ton at the beginning of the year and more than double $605 per ton a year ago, according to SMU’s interactive price tool.

By Michael Cowden, Michael@SteelMarketUpdate.com

Michael Cowden

Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.