SSAB Americas Increases Plate Prices by $50 Per Ton

The amount of the increase is $60 per ton CAD for customers in Canada.

The price hike 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.

Other North American producers will probably follow the move, market participants told SMU.

Nucor has in prior months announced plate price increases on the 22nd.

Plate prices averaged $1,805 per ton ($90.25 per cwt) when this article was filed. That’s little changed from $1,800 per ton a month ago, but up nearly 151% from $720 per ton a year ago, according to SMU’s interactive price tool.

And while plate prices have been roughly steady over the last month, sheet prices have fallen – resulting in prices of the two products nearing parity for the first time in about a year.

Plate typically carries a premium over sheet. But plate prices have fallen below sheet prices since demand snapped back following the initial outbreak of the COVID-19 pandemic.

By Michael Cowden, Michael@SteelMarketUpdate.com