Steel Products Prices North America
Mills Raise Plate Price by $40 Per Ton
Written by Tim Triplett
May 19, 2020
Domestic steelmakers raised the spot price of plate products by $40 per ton yesterday, hoping to stem the slide and capitalize on improving demand as coronavirus restrictions ease and businesses are allowed to gradually reopen.
The plate price has been trending downward this year since peaking in January at $710 per ton ($35.50/cwt). Steel Market Update puts the current plate price in a range from $570-610, averaging $590 per ton.
SSAB Americas notified customers that it has immediately increased transaction prices by $40 per ton an all new non-contract orders of As-Rolled Mill Plate, Cut-To-Length Plate >72”, Hot Rolled Coils >72”, as well as Normalized Plate and Quenched & Tempered Plate. All extras will be applied as published.
ArcelorMittal USA announced its $40 increase on all new non-contractual carbon, HSLA, alloy, heat-treated and specialty plate products, also effective immediately. Nucor is expected to follow with a similar increase.
The last price increase announcements on plate were in early December when Nucor and SSAB sought an additional $50 per ton.
Tim Triplett
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