Steel Prices

SSAB Americas hikes plate price again, this time by $100/ton
Written by Michael Cowden
February 20, 2025
SSAB Americas aims to increase plate prices by at least $100 per short ton (st).
The steelmaker said the increase was effectively immediately and applied to all new, non-contract orders. All published extras will applied, it added.
“SSAB Americas reserves the right to re-quote any open offers not confirmed by an SSAB order acknowledgement,” the company said in a letter dated Wednesday, Feb. 19, announcing the increase.
SSAB has increased plate prices by a total of $240/st in less than a month. That tally results from the current increase, an increase of $80/st in early February, and another of $60/st in late January, according to SMU’s price announcement calendar.
SSAB also advised customers to contact company sales representatives starting on Monday, Feb. 24, to confirm April prices and production schedules. The company said it had not yet opened May order books for spot business.
SSAB Americas is a subsidiary of Swedish steelmaker SSAB. The company operates plate mills in Mobile, Ala., and Montpelier, Iowa.

Michael Cowden
Read more from Michael CowdenLatest in Steel Prices

SMU price ranges: Sheet and plate prices slip
Most sheet and plate steel prices declined yet again this week, with four of SMU’s five indices moving lower.

Nucor holds HRC CSP at $930/ton for third week
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil remained unchanged this week.

CRU: Chinese steel export prices mixed, although local buying improves
Chinese export prices for longs were almost steady this week, while those for flats generally declined as producers cut prices to secure deals.

HR Futures: Nascent rally in HRC futures settles above 6-week downtrend
The CME Midwest HRC futures market’s response to Trump’s election and subsequent comments about blanket 25% tariffs on Canada and Mexico was surprisingly counterintuitive.

SMU price ranges: Tags flat or down, sheet momentum ‘lower’
SMU’s flat-rolled steel prices were flat or lower as tariff-related uncertainty continued to drag on the market.