Prices
SSAB Follows Nucor, Increases Plate Prices
Written by Michael Cowden
October 25, 2021
SSAB Americas has followed competitor Nucor in raising prices for steel plate by $50 per ton ($2.50 per cwt).
The price hike is effective immediately for all new spot orders, the Mobile, Ala.-based steelmaker said in letters to customers on Monday, Oct. 25
The increase is $60 per ton CAD for customers in Canada.
It applies equally to as-rolled mill plate and coil, cut-to-length plate more than 72 inches wide, normalized plate, and quenched-and-tempered (Q&T) product, SSAB said.
Published extras, regional freight premiums and non-preferred freight mode extras will also be applied, the company said.
SSAB’s increase follows a leading move announced by Charlotte, N.C.-based Nucor on Friday, Oct. 22.
SSAB, like Nucor, has in prior months raised prices for Q&T significantly higher than those for other plate products.
Plate prices stand at $1,800 per ton ($90 per cwt), up 3.4% from $1,740 per ton last month and nearly triple $660 per ton a year ago, according to SMU’s interactive price tool.
SMU will next update its plate prices on Tuesday, Oct. 26.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
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