Steel Products Prices North America
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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