Steel Products Prices North America

Evraz Follows Nucor, SSAB in Lifting Plate Prices by $80

January 27, 2021

Evraz North America has followed Nucor and SSAB Americas in increasing plate prices by at least $80 per ton ($4/cwt).

The steelmaker said that the increase was effective immediately and that it applied equally to all carbon, high-strength low-alloy, hot-rolled coil, normalized, and quenched-and-tempered products, according to a letter to customers Jan. 26.

steel plate “We reserve the right to re-quote any offers that have not been confirmed,” Evraz NA said in the letter.

The increase, Evraz’s second of the month, means the steelmaker is now seeking $220 per ton more for plate following a $140-per-ton price hike announced on Jan. 6.

Plate mills have been boosting tags in part because they want to restore plate’s typical price premium over hot-rolled coil.

But some market participants question the timing of triple-digit price hikes given that oil-and-gas demand remains weak, that such large gains could make imports more attractive to U.S. buyers, and that high prices could result in some projects being delayed.

Also, while U.S. steel prices are still trending upward, they are no longer doing so in unison.

Case in point: Steel Market Update’s average plate price stands at $1,010 per ton this week, unchanged from last week. SMU’s average hot-rolled coil price is at $1,140 per ton – a new all-time high and a $10-per-ton increase versus the week prior. But this week’s HRC gains pale in comparison to weekly increases of $50-70 per ton recorded earlier in the month.

Evraz NA, based in Chicago, is a subsidiary of Russian steelmaker Evraz. It operates a plate mill in Portland, Ore., the only one of its kind in the western United States and Canada, according to the company’s website.

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 specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, 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.