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    April 9, 2026

    Algoma aims to increase plate prices by US$60/ton, hints at fuel surcharge

    Written by Michael Cowden

    Algoma Steel aims to increase plate prices by US$60 per short ton (CA$80/st), effectively immediately, according to a letter to customers dated Thursday.

    “Information regarding fuel-related surcharges will be forthcoming,” the Canadian flat-rolled steelmaker added in the letter.

    Algoma’s plate price hike follows similar announcements by SSAB Americas and Nucor. Nucor, in its price increase announcement, also rolled out a new fuel surcharge mechanism.

    Algoma, which is based in Sault Ste. Marie, Ontario, significantly reduced its US presence following the imposition of 50% Section 232 tariffs. But the company continues to make more limited sales in the States.

    SMU’s price assessment for steel plate currently stands at $1,180/st on average. That’s up $25/st (+2%) from $1,155 last week and up $160/st (+16%) from $1,020/st at the beginning of the year, according to SMU’s interactive pricing tool.

    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.

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