Steel Prices

SSAB Americas seeks to raise plate prices $60/ton
Written by Michael Cowden
October 24, 2024
SSAB Americas plans to increase plate prices by at least $60 per short to (st), according to a letter to customers dated Thursday, Oct. 24.
The higher prices are effective immediately for all new non-contract orders scheduled to ship on or after Dec. 2. They apply equally to as-rolled, normalized, and wide cut-to-length plate, the company said.
“SSAB Americas reserves the right to re-quote any open offers not confirmed by an SSAB order acknowledgment,” Chris Oggenfuss, director of commercial strategy and sustainability products sales, said in the letter.
SSAB Americas is a subsidiary of Swedish steelmaker SSAB. It operates two plate mills in the US: one in Montpelier, Iowa, and another near Mobile, Ala.
The company has not announced a price increase since last year. It last posted a price hike (also of $60/st) on Nov. 28, 2023, according to SMU’s price announcement calendar.
Plate prices have fallen steadily but significantly over the last year. SMU’s plate price now stands at $910/st on average. That’s down 3.2% from $950/st a month ago and 38.3% from $1,475/st a year ago.

Michael Cowden
Read more from Michael CowdenLatest in Steel Prices

CR import price gap widens with US
Cold-rolled (CR) coil prices ticked lower in the US this week, while prices in offshore markets diverged and ticked higher.

US-Brazil pig iron trade lacks movement
The Brazilian-US pig iron market has remained quiet, market sources told SMU.

Spread between US HRC, imports widens
Domestic hot-rolled (HR) coil prices were flat this week for a third straight week. Offshore prices all moved higher w/w, widening the margin between stateside and foreign product.

SMU Price Ranges: Tags mixed as uncertainty weighs on market
SMU’s hot-rolled (HR) coil price held steady this week while prices for other sheet and plate products declined.

Nucor spot HR list price unchanged at $875/ton
Nucor kept its weekly list price for hot-rolled (HR) coil unchanged this week, following a price bump of $10 per short ton (st) last week.