Steel Products Prices North America
SSAB Americas Increases Plate Prices $150-200/ton
Written by Michael Cowden
July 26, 2021
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.
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
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