Scrap Prices North America
SSAB Aims to Raise Plate Tags by at Least $60/ton
January 18, 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 confirmed to ship the week of March 5 or later, the company said in a letter to customers on Wednesday, Jan. 18.
SSAB said the increase is in addition to the March raw material surcharge set to be announced on Thursday, Feb. 16. Published extras, regional freight premiums, and non-preferred freight mode extras will be applied.
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.
The steelmaker said it reserves the right to requote any open offers not confirmed by an SSAB order acknowledgement. However, all other terms and conditions of sale remain unchanged.
SSAB also aims to increase plate prices in Canada by Canadian $80 per ton, according to a letter to customers there also dated Jan. 18.
SMU’s plate price stands $1430 per ton. It has been roughly at that level since early December, according to our pricing tool.
SSAB Americas is a subsidiary of Swedish steelmaker SSAB. The company operates plate mills in Mobile and in Montpelier, Iowa.
By Ethan Bernard, Ethan@SteelMarketUpdate.com
Latest in Scrap Prices North America
HRC vs. prime scrap spread flat in November
The price spread between hot-rolled coil (HRC) and prime scrap remained the same in November as both tags were at the levels seen a month earlier, according to SMU’s most recent pricing data.
HRC vs. busheling spread narrows slightly in October
The price spread between hot-rolled coil (HRC) and prime scrap narrowed marginally in October, according to SMU’s most recent pricing data.
HRC vs. scrap spread widens but remains low
The price spread between hot-rolled (HR) coil and prime scrap widened slightly in August but remains in territory not seen since late 2022, according to SMU’s most recent pricing data.
The most underappreciated scrap grade
Over the last several years, I have noticed widening spreads between #1 Heavy Melting Steel (ISRI 201) and Shredded (ISRI 210,211), as well as Plate & Structural (ISRI 232).
Domestic scrap tags flat in April
April scrap prices came in sideways in the US, sources told SMU.