Steel Products Prices North America
SSAB Americas Announces $60/ton Plate Price Hike
Written by David Schollaert
February 24, 2023
SSAB Americas has announced plans to increase plate prices by at least $60 per ton ($3 per cwt).
The price hike applies equally to as-rolled, normalized, quenched-and-tempered, and wide cut-to-length plate products. It is effective immediately on all new, non-contract orders, the company said in a letter to customers on Friday, Feb. 24.
SSAB said the increase is in addition to last month’s $60-per-ton price hikes and April’s raw material surcharge, which is set to be announced on Thursday, March 20. Published extras, regional freight premiums, and non-preferred freight mode extras will also be applied, the company said.
Recall that SSAB implemented a raw materials surcharge, or RMS, in March 2022, following the outbreak of the war in Ukraine, which temporarily drove scrap costs sharply higher.
“SSAB Americas reserves the right to re-quote any open offers not confirmed by an SSAB order acknowledgment,” SSAB said in the letter.
SMU’s latest check of the market on Feb. 21 put discrete plate prices at an average of $1,440 per ton ($72 per cwt), FOB mill. They have been roughly at that level since early December but are down more than 25% from an all-time high of $1,940 per ton in May 2022, according to our pricing tool.
This is SSAB Americas’ second $60-per-ton plate price increase since mid-January. Nucor, another leading US plate supplier, has in contrast kept its plate prices sideways since late November, when the company cut plate prices by $140 per ton.
SSAB Americas is a subsidiary of Swedish steelmaker SSAB. The company operates plate mills in Mobile, Ala., and in Montpelier, Iowa.
By David Schollaert, david@steelmarketupdate.com

David Schollaert
Read more from David SchollaertLatest in Steel Products Prices North America

Nucor slows HRC price climb with $5/ton increase
After eight weeks of double-digit price increases on hot-rolled (HR) coil, Nucor slowed the price rise this week with an increase of $5 per short ton.

Domestic CRC prices surge ahead of imports
The price spread between stateside-produced CR and imports reached its widest margin in over a year.

Evraz raises plate prices $160/ton
Evraz North America (NA) has followed Nucor and SSAB with a plate price increase of its own: up $160 per short ton (st). The increase was effective immediately for all new orders of carbon, high-strength low-alloy, and normalized and quenched-and-tempered plate products, as well as for hot-rolled coil, the steelmaker said in a letter to […]

Nucor lifts HR coil to $820/ton
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.

Nucor pushes HR spot price to $790/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $790 per short ton (st) on Monday, Feb. 10 – a $15/st bump vs. last week. The Charlotte, N.C.-based company has raised its weekly CSP by $40/st over the past three weeks after maintaining tags at $750/st since Nov. 12, according to SMU’s […]