Steel Products Prices North America

SSAB Follows Nucor, Increases Plate Prices

Written by Michael Cowden

October 25, 2021

SSAB Americas has followed competitor Nucor in raising prices for steel plate by $50 per ton ($2.50 per cwt).

The price hike is effective immediately for all new spot orders, the Mobile, Ala.-based steelmaker said in letters to customers on Monday, Oct. 25

steel plateThe increase is $60 per ton CAD for customers in Canada.

It applies equally to as-rolled mill plate and coil, cut-to-length plate more than 72 inches wide, normalized plate, and quenched-and-tempered (Q&T) product, SSAB said.

Published extras, regional freight premiums and non-preferred freight mode extras will also be applied, the company said.

SSAB’s increase follows a leading move announced by Charlotte, N.C.-based Nucor on Friday, Oct. 22.

SSAB, like Nucor, has in prior months raised prices for Q&T significantly higher than those for other plate products.

Plate prices stand at $1,800 per ton ($90 per cwt), up 3.4% from $1,740 per ton last month and nearly triple $660 per ton a year ago, according to SMU’s interactive price tool.

SMU will next update its plate prices on Tuesday, Oct. 26.

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.

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