Steel Products Prices North America
SSAB & ArcelorMittal Begin 3rd Round of Price Increases
Written by John Packard
March 1, 2016
SSAB, which is known primarily as a plate supplier, announced a $30 per ton price increase on plate and hot rolled coil in the United States and a $40 per ton price increase on hot rolled. The SSAB increases were sent via an emailed letter to their customers. The letter began, “Please be advised that effective immediately SSAB Americas is raising the transaction price for all non-contract As-Rolled Mill Plate, Cut-To-Length Plate >72”, Hot Rolled Coils >72”, as well as Normalized and Quenched & Tempered Plate by a minimum of $30 per ton.” The letter advised the increases were to be effective immediately on all new orders.
The ArcelorMittal USA announcement was sent out via email by individual account managers to their customers. The announcement said,
“Effective immediately, ArcelorMittal USA is increasing our transaction price by $30/ton on all new orders of Hot Roll, Cold Roll, and Coated Sheet products. We reserve the right to re-quote any open offers that are not presently confirmed with an ArcelorMittal order acknowledgement.” ArcelorMittal went on to explain that the price increase was necessary in order to, “…restore fair value for our products and services during a challenging period in the steel industry.”
As of Tuesday morning (March 1st) none of the other sheet mills had followed the SSAB/AM USA lead and made any price announcements. Steel buyers have been telling us over the past 24 hours that most mills are waiting for SDI and Nucor to make their announcements (or begin telling their customers where their spot numbers will be on new orders). We understand that the SDI Butler April order book has not yet been opened and buyers believe it is because SDI wants to see if other mills will make price announcements.
Steel buyers are asking questions as to what the price increase announcements that have been made might mean for hot rolled, cold rolled and coated base prices. We are hearing numbers on hot rolled ranging from $21.00/cwt to $22.00/cwt and cold rolled and coated at $30.00/cwt base price (or close).
John Packard
Read more from John PackardLatest in Steel Products Prices North America
Plate report: Prices getting closer to pre-Covid norms
The US plate market finds itself in unfamiliar territory, well maybe unfamiliar territory for this side of the post-Covid “normal,” that is.
SMU price ranges: Sheet momentum indicator shifts to neutral in mixed market
SMU’s steel price indices showed mixed signals for a second consecutive week. Our hot rolled, cold rolled, and plate price indices inched lower from last week, as the galvanized index held steady and Galvalume's ticked higher.
Nucor increases CSP, aims for $720/ton on HRC
Nucor has raised its weekly consumer spot price (CSP) by $10 per short for hot-rolled (HR) coil to $720/st.
Nucor inches HR price up, aims for $695/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $695 per short ton (st), up $5/st from last week.
Nucor maintains $690/ton HR base price
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil is unchanged from last week at $690/ton.