Steel Products Prices North America

Nucor, SSAB Hike Plate Prices by $80 Per Ton

Written by Michael Cowden

January 26, 2021

Nucor and SSAB Americas aim to increase plate prices by another $80 per ton ($4/cwt).

Effective immediately, Nucor’s new ex-works base price for cut-to-length grade A36 plate is $1,020 per ton ($51/cwt), up from $940 per ton on Jan. 5, according to a letter sent to customers on Tuesday.

The new base price for quenched-and-tempered A514 Grade is $1,270 per ton, up from $1,190 per ton in early January. And Nucor’s new base price for normalized A516-70 material is $1,150 per ton, up from $1,070 per ton previously.

“All published adders/extras will be applied,” Nucor said. The steelmaker also said it was not yet accepting orders for April.

SSAB likewise wants to raise plate prices by at least $80 per ton on all new non-contract orders effective immediately.

The move applies equally to as-rolled mill plate, to cut-to-length plate more than 72 inches wide, to hot-rolled coils more than 72 inches wide, as well as to normalized and quenched-and-tempered material, the company said in its letter to customers Tuesday.

The price hike also coincides with SSAB opening its March order book for spot orders. April remains closed for non-contract business, SSAB said.

“As always, SSAB Americas remains committed to providing a superior product offering at competitive market prices,” the letter said.

Both mills have rung in the New Year with sharply higher prices. Nucor has announced price increases totalling $220 per ton since the beginning of the month. SSAB has rolled out price hikes totalling $180 per ton over the same period.

It’s too early to say whether the latest price hikes will stick. Steel Market Update’s average plate price stood at $1,010 per ton on Tuesday, unchanged from the week prior.

By Michael Cowden, michael@steelmarketupdate.com

 

Michael Cowden

Michael Cowden is managing editor for Steel Market Update. Cowden has covered the steel industry since 2007. He has since 2014 specialized in flat-rolled steel but has previously reported on steel long products, steel pipe and tube as well as aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago - where he was involved in launching AMM's daily hot-rolled coil index, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

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