SSAB Increases Q&T Plate Prices by at Least $100/ton

The move is effectively immediately on all non-contract orders confirmed to ship on May 1 or later, SSAB said in a letter to customers dated Friday, April 8.

That would appear to indicate that some orders already placed but not shipped will be subject to higher prices.

And any increases to SSAB’s raw material surcharge (RMS) – which will be announced on April 19 – will come on top of that $100 per ton.

Recall that the Mobile, Ala.-based steelmaker rolled out a RMS in March. That resulted in a price increase of $63 per ton in April, when scrap prices settled higher.

SSAB Americas is a subsidiary of Swedish steelmaker SSAB. The company operates plate mills in Mobile and in Montpelier, Iowa.

Plate prices have soared to their highest point ever this year. SMU’s plate price was at $1,885 per ton when this article was filed, up 5.6% from $1,785 per ton at the beginning of the year and up 61% from $1,170 per ton in early April of 2021.

By Michael Cowden, Michael@SteelMarketUpdate.com