Steel Products Prices North America

SSAB Increases Q&T Plate Prices by at Least $100/ton

Written by Michael Cowden

April 8, 2022

SSAB Americas aims to increase prices on all quenched-and-tempered (Q&T) products by at least $100 per ton ($5 per cwt).

The price hike is $125 CAD per ton for customers in Canada, the company noted.

steel plateThe move is effectively immediately on all non-contract orders confirmed to ship on May 1 or later, SSAB said in a letter to customers dated Friday, April 8.

That would appear to indicate that some orders already placed but not shipped will be subject to higher prices.

And any increases to SSAB’s raw material surcharge (RMS) – which will be announced on April 19 – will come on top of that $100 per ton.

Recall that the Mobile, Ala.-based steelmaker rolled out a RMS in March. That resulted in a price increase of $63 per ton in April, when scrap prices settled higher.

SSAB Americas is a subsidiary of Swedish steelmaker SSAB. The company operates plate mills in Mobile and in Montpelier, Iowa.

Plate prices have soared to their highest point ever this year. SMU’s plate price was at $1,885 per ton when this article was filed, up 5.6% from $1,785 per ton at the beginning of the year and up 61% from $1,170 per ton in early April of 2021.

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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