SSAB Americas aims to increase plate prices by another $60/ton

SSAB Americas plans to increase plate prices by at least $60 per short ton (st), according to a letter sent to customers on Monday.

The steelmaker said the increase would apply to all new spot orders confirmed to ship on or after May 31.

“Published extras, regional freight premiums and non-preferred freight mode extras will be applied,” the company said in the letter.

The latest price hike comes after SSAB last month said it would hike plate prices by $60/st for all spot orders scheduled to ship on or after May 3.

SSAB Americas, the US subsidiary of Swedish steelmaker SSAB, operates two plate mills in the US: one near Mobile, Ala., the other in Montpelier, Iowa.

Editor’s note: You can keep tabs on price increases with SMU’s mill price announcement calendar.

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

Latest in Market Segment

Nucor raises list price for HR by $5/ton to $1,040/ton

Market fears shortages of domestically produced plate products

Trump administration introduces shift to full-value tariffs on derivative imports

SMU Survey: Mills hold their grip on prices, buyers say