Steel Products Prices North America
SSAB Up $100/ton on Spot Plate Prices
Written by Michael Cowden
June 21, 2021
SSAB Americas aims to increase steel plate prices by at least $100 per ton ($5/cwt) effective immediately on all new spot orders.
The increase applies equally to as-rolled mill plate and coil, cut-to-length plate, normalized plate, and quenched-and-tempered plate, the company said in a letter to customers on Monday, June 21.
“In addition to this announcement, August pricing will be finalized when we open the month for order entry,” SSAB said.
Published extras and regional freight premiums will continue to be applied, the company added.
The price hike is $125 CAD per ton for customers in Canada, according to a separate letter sent to SSAB Canadian customers.
SSAB’s move was a leading one, and other plate mills are likely to follow, market participants said.
SSAB also increased prices by $100 per ton last month. And plate prices, along with sheet prices, have seen astronomical gains this year and continue to test new record highs.
SMU’s benchmark plate price stood at $1,435 per ton ($71.75/cwt) when this article was filed. That’s up 64% from $875 per ton at the beginning of the year and more than double a 2020 low of $590 per ton recorded in August of last year, per SMU pricing archives.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Products Prices North America
Nucor slows HRC price climb with $5/ton increase
After eight weeks of double-digit price increases on hot-rolled (HR) coil, Nucor slowed the price rise this week with an increase of $5 per short ton.
Domestic CRC prices surge ahead of imports
The price spread between stateside-produced CR and imports reached its widest margin in over a year.
Evraz raises plate prices $160/ton
Evraz North America (NA) has followed Nucor and SSAB with a plate price increase of its own: up $160 per short ton (st). The increase was effective immediately for all new orders of carbon, high-strength low-alloy, and normalized and quenched-and-tempered plate products, as well as for hot-rolled coil, the steelmaker said in a letter to […]
Nucor lifts HR coil to $820/ton
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.
Nucor pushes HR spot price to $790/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $790 per short ton (st) on Monday, Feb. 10 – a $15/st bump vs. last week. The Charlotte, N.C.-based company has raised its weekly CSP by $40/st over the past three weeks after maintaining tags at $750/st since Nov. 12, according to SMU’s […]