Steel Products Prices North America

SSAB Americas Increases Plate Prices by $50 Per Ton

Written by Michael Cowden

November 22, 2021

SSAB Americas, in a leading move, has increased plate prices by $50 per ton ($2.50 per hundredweight).

The price hike is effective immediately for all new spot orders, the Mobile, Ala.-based steelmaker said in letters to customers on Monday, Nov. 22.

steel plateThe 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

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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