Steel Mills
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/6d5d4b3b58e757c8e7b9a8ef88c41437.jpg)
SSAB Increases Plate Prices by $50/ton, Maintains RMS
Written by Michael Cowden
May 9, 2022
SSAB Americas aims to increase plate prices by at least $50 per ton ($2.50 per cwt) effective immediately on all non-contract orders confirmed to ship on or after July 3.
The Mobile, Ala-based steelmaker said the price hike would be $65 per ton CAD for customers in Canada.
The increase applies equally to as-rolled, normalized, quenched-and-tempered, and wide cut-to-length products, the company said in letters to customers dated Monday, May 9.
The latest price hike will come in addition to a July raw material surcharge (RMS) scheduled to be announced on Thursday, June 16.
SSAB implemented a raw materials surcharge, or RMS, in March.
The company said published extras and regional freight premiums would also be collected.
SSAB last increased plate prices in April. The May increase is notable in part because the amount of the price hike is the same across all plate products.
In April, in contrast, the company announced a $100-per-ton price hike for Q&T and a $60-per-ton increase for all other products.
SSAB Americas is a subsidiary of Swedish steelmaker SSAB. The company operates plate mills in Mobile and in Montpelier, Iowa.
Plate prices averaged at $1,903 per ton in April, up 3.6% from $1,837 per ton in March and up 5.4% from $1,805 per ton in February, according to SMU’s interactive pricing tool.
Domestic sheet prices have been trending down in recent weeks. Plate to date has bucked that trend.
By Michael Cowden, Michael@SteelMarketUpdate.com
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/02/SMU_MC_headshot-150x150.png)
Michael Cowden
Read more from Michael CowdenLatest in Steel Mills
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
Nucor lowers 2024 output estimate for Brandenburg plate mill
Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/SSAB.png)
SSAB adjusts output in weak Q3, readies for Q4 rebound
SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
Topalian puts focus on “unfair” trade, eyes USMCA partners
Nucor’s top executive expressed concerns over unfair trade practices, highlighting increased steel imports from Mexico and Canada.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Cliffs_logo2.2.png)
Cliffs sees close of Stelco buy, bottom to steel tags, and Mexico out of USMCA
Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
Nucor posts lower Q2 earnings, predicts tough Q3 too
Nucor recording lower second quarter earnings on falling steel prices. And the Charlotte, N.C.-based predicted that profits would be lower still in the third quarter, primarily because of weaker results from its steel mills divisions.