SSAB Americas aims to hike plate prices by $60/ton

SSAB Americas wants to increase plate prices by at least $60 per short ton (st). That’s $10/st more than rival Nucor’s price hike last week.

The price increase is effective with all new spot orders confirmed to ship on or after March 29, SSAB said in a letter to customers on Monday.

“SSAB Americas reserves the right to re-quote any open offers not confirmed by an SSAB order acknowledgement,” the letter said.

Oregon Steel Mills also increased plate prices by $60/st. The Portland, Ore.-based steelmaker said on Friday that its hike would be effective immediately for all new orders.

Charlotte, N.C.-based Nucor, in contrast, on Friday announced a $50/st plate price hike.

SMU’s mill price announcement calendar reflects all the increases noted above.

SMU’s plate price assessment stands at $1,055/st on average, unchanged from a week ago. We will next update plate prices on Tuesday afternoon.

Michael Cowden

Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

Michael Cowden

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