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.
The 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
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