Steel Products Prices North America

Algoma Follows SSAB, Increases Plate Prices $50 Per Ton

Written by Michael Cowden

November 23, 2021

Algoma Steel Inc. has increased plate prices for U.S. customers by at least $50 per ton ($2.50 per cwt).

The move is effective immediately for new spot orders. The increase is $60 per ton CAD for customers in Canada.

steel plateThe Sault Ste. Marie, Ontario-based flat rolled steelmaker said the price hike applied equally to as-rolled and heat-treated plate in letters to customers dated Tuesday, Nov. 23.

“We reserve the right to review and re-quote any offers that are not confirmed with either an Algoma sales acknowledgement or written acceptance by both parties,” the company said.

Algoma’s price hike follows a leading move from SSAB Americas on Monday.

It is notable because Algoma is an important plate supplier not only to Canada but also to the U.S. Midwest.

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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