Steel Products Prices North America
SSAB Americas Increases Plate Prices by $60/ton
Written by Michael Cowden
April 13, 2022
SSAB Americas plans to increase prices on as-rolled, normalized and wide cut-to-length plate by at least $60 per ton ($3 per cwt).
The Mobile, Ala.-based steelmaker said the price hike would be $70 CAD per ton for customers in Canada.
“SSAB Americas reserves the right to re-quote any open offers not confirmed by an SSAB order acknowledgement,” according to letters to customers dated Tuesday, April 12.
The company said the move would be effective immediately on all spot orders shipping on or after May 29. It also said that the latest price hike would come in addition to a June raw material surcharge (RMS) that will be announced on May 17.
Recall that SSAB rolled out an RMS last month. It resulted in a price increase of $63 per ton in early April after scrap prices settled higher in March.
The $60-per-ton base price increase comes after SSAB announced a $100-per-ton price hike on quenched-and-tempered products last week.
The jury is still out on the latest wave of price hikes. SMU’s plate price currently stands at $1,880 per ton ($94 per cwt), little changed from $1,885 per ton last week and up 4% from $1,815 per ton a month ago, according to our interactive pricing tool.
SSAB Americas is a subsidiary of Swedish steelmaker SSAB. The company operates plate mills in Mobile and in Montpelier, Iowa.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
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