Steel Products Prices North America
SSAB & Nucor Announce $50 Plate Price Increase
Written by John Packard
December 22, 2016
On Wednesday morning SSAB informed their customers of their intention to increase transaction prices by $50 per ton ($2.50/cwt) “effective immediately on all new non-contract orders.” Later in the day Nucor Plate Mill Group followed the SSAB lead and also increased their spot prices on carbon, alloy and heat-treated plate by $50 per ton.
Where the two increase announcement diverge is the SSAB letter also flags any greater than 72” hot rolled coils for the increase right along with their As-Rolled Mill Plate, Cut-to-Length Plate >72, as well as Normalized and Quenched & Tempered Plate.It is expected that ArcelorMittal and Evraz will follow along with plate price increases of their own.
Steel Market Update spoke with a couple of plate customers who advised us that the new “target” base price for plate was $32.00/cwt-$32.50/cwt ($640-$650 per ton).
Over the past six weeks domestic (USA) plate mills have increased prices four times and by a total of $190 per ton.
In the past Steel Market Update has seen plate price announcements made just prior to new flat rolled announcements. If the trend holds true then buyers should expect a flat rolled price increase announcement that could come at any moment.
John Packard
Read more from John PackardLatest in Steel Products Prices North America
SMU Price Ranges: HR crawls back to $800/ton
SMU’s HR price stands at $800/st on average, up $5/st from last week. The modest gain came as the low end of our range firmed, and despite the high end of our range declining slightly.
SMU successfully completes IOSCO review
SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).
Domestic plate prices could heat up despite so-so demand, market sources say
Some sources also speculated that plate could see further price increases thanks to modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.
SMU Price Ranges: HR holds, galv slips amid competing market narratives
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.
Nucor carries $875/ton HR list price into week seven
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Oct. 6