Steel Products
SSAB increases plate prices by $60/ton
Written by David Schollaert
November 28, 2023
SSAB Americas has announced plans to increase plate prices by at least $60 per ton ($3 per cwt), with the opening of its January 2024 order book.
The price hike applies equally to as-rolled, normalized, quenched-and-tempered, and wide cut-to-length plate products. It is effective immediately on all new, non-contract orders, the company said in a letter to customers on Tuesday, Nov. 28.
SSAB said the increase is in addition to January’s raw material surcharge, which is set to be announced on Thursday, Dec. 14. Published extras, regional freight premiums, and non-preferred freight mode extras will also be applied, the company said.
Recall that SSAB implemented a raw materials surcharge, or RMS, in March 2022, following the outbreak of the war in Ukraine, which temporarily drove scrap costs sharply higher.
“SSAB Americas reserves the right to re-quote any open offers not confirmed by an SSAB order acknowledgment,” the company said in the letter.
SSAB Americas is a subsidiary of Swedish steelmaker SSAB. The company operates plate mills in Mobile, Ala., and in Montpelier, Iowa.
David Schollaert
Read more from David SchollaertLatest in Steel Products
US CR tags ease, premium over imports still high
Offshore cold-rolled (CR) coil prices remain much less expensive than domestic product, even as domestic prices have slipped to a six-month low, according to SMU’s latest check of the market.
Steel imports strengthen through April licenses
March 2024 represents the third highest monthly steel import rate seen over the prior year.
Active rig counts mixed entering May
Drilling activity declined in the US but increased in Canada, according to the latest data from Baker Hughes.
AISI: US steel shipments slip y/y in March
US steel mill shipments dropped in March on-year but were up from February, according to the most recent figures from the American Iron and Steel Institute (AISI).
Northwest Pipe profits soar in first quarter
Northwest Pipe’s profits more than doubled in the first quarter on-year, as the company expects a strong remainder of the year in both its steel pressure pipe and precast segments.