Steel Products Prices North America

SSAB Americas Up $60/ton on Steel Plate

Written by Michael Cowden

April 21, 2021

SSAB Americas aims to increase plate prices by at least $60 per ton ($3/cwt) on all new, non-contract orders effective immediately.

The steelmaker’s price hike appears to be a leading move, according to market participants.

SSABThe price increase applies equally to as-rolled mill plate, cut-to-length plate more than 72 inches wide, hot-rolled coils more than 72 inches wide, normalized plate, and quenched-and-tempered plate, SSAB said in a letter to customers Wednesday, April 21.

“Published freight extras, regional freight premiums and non-preferred freight mode extras will be applied,” the company added.

The amount of the increase for customers in Canada is $75 CAD per ton, SSAB said in a separate letter to Canadian buyers.

SSAB’s $60-per-ton increase this month comes after the steelmaker tried to increase prices by a combined $180 per ton in March.

It’s not clear whether that entire amount stuck. But Steel Market Update’s average plate price, like prices for other flat-rolled products, continues to move upward and test new record highs.

SMU’s average plate price stands at $1,200 per ton ($60/cwt), up 5.7% from $1,135 per ton a month ago and up 37.1% from $875 per ton at the beginning of the year.

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.

Read more from Michael Cowden

Latest in Steel Products Prices North America