Algoma seeks higher tags on coil, plate products

Algoma Steel announced on Thursday a price increase for coil and plate products, effective immediately.

The Sault Ste. Marie, Ontario-based steelmaker is seeking a minimum of Canadian $50 per short ton (st) (US$36) hike on all new non-contract transactions for coil products.

Additionally, the company is aiming for a CA$80/st (USD$58) increase that will apply specifically to plate products, it said in a letter to customers.

Algoma last announced a price increase on plate in early April.

SMU’s average plate price stood at $1,260/st as of Tuesday, June 2. That’s even with the previous week but up $35/st from four weeks earlier.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

Ethan Bernard

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