Steel Mills

SSAB, Nucor Raise Plate Price by $40 Per Ton
Written by Tim Triplett
October 23, 2018
SSAB Americas and Nucor both announced a $40 per ton increase in the price of plate products this week.
SSAB Americas informed customers on Monday, Oct. 22, that it is increasing transaction prices on plate products by a minimum of $40 per ton, effective immediately for all non-contract orders acknowledged for shipment the week of Dec. 30 and beyond.
The increase will apply for As-Rolled Mill Plate, Cut-To-Length Plate >72”, Hot Rolled Coils >72”, as well as Normalized and Quenched & Tempered Plate. All extras will be applied as published.
“SSAB continues to monitor market conditions in order to better realize the value our products bring to our customers,” the company said in its letter.
SSAB’s last announcement on plate was March 14, when it raised prices by $50 per ton.
The Nucor Plate Group announced today, Oct. 23, that it also is raising transaction prices on carbon and alloy plate and heat-treated plate by $40 per ton. The increase takes effect immediately on all new orders promised on or after Jan. 1, 2019. All published extras will be applied. Nucor’s last price hike on plate was a $50 increase announced Feb. 14.
The change in the plate price follows on the increase announced Oct. 10 by Nucor’s Sheet Mill Group raising the price of hot rolled, cold rolled and galvanized products by $40 per ton.
Domestic plate mills have been on controlled order entry for months with lead times extended to 6-10 weeks as demand has outpaced supply. Plate prices have been relatively stable (see chart below), compared to flat rolled prices, which have been on the decline since this summer. However, Steel Market Update data showed plate prices slipping by about $10 last week to an average around $995 per ton.

Tim Triplett
Read more from Tim TriplettLatest in Steel Mills

Government seeks extension in USS-Nippon lawsuit as talks continue
The government said it hopes to reach an agreement with the two companies outside of the courts, according to a filing last week.

Toyota Tsusho America to acquire Radius Recycling for $1.34 billion
The companies said Thursday that Radius shareholders will receive $30 per share in cash upon the deal’s closing, which is expected in the second half of this year.

Algoma resumes steel shipments to US, sees opportunity in tariffs
Algoma Steel has resumed shipments to the US, effective Friday, March 14. And the Canadian steelmaker sees a potential opportunity with the current tariff situation.

Algoma posts narrower Q4 loss, braces for tariff impact as US shipments pause
Algoma Steel's net loss narrowed in the fourth quarter vs. a year earlier amid economic uncertainty and tariff-related issues.

Evraz NA refutes report it falsified tests on plate for US military
Employees at Evraz North America, a subsidiary of Russia's Evraz plc, reportedly falsified quality control test results on armored plate for military vehicles. Evraz NA denies the claims.