Steel Prices
SSAB Americas seeks to raise plate prices $60/ton
Written by Michael Cowden
October 24, 2024
SSAB Americas plans to increase plate prices by at least $60 per short to (st), according to a letter to customers dated Thursday, Oct. 24.
The higher prices are effective immediately for all new non-contract orders scheduled to ship on or after Dec. 2. They apply equally to as-rolled, normalized, and wide cut-to-length plate, the company said.
“SSAB Americas reserves the right to re-quote any open offers not confirmed by an SSAB order acknowledgment,” Chris Oggenfuss, director of commercial strategy and sustainability products sales, said in the letter.
SSAB Americas is a subsidiary of Swedish steelmaker SSAB. It operates two plate mills in the US: one in Montpelier, Iowa, and another near Mobile, Ala.
The company has not announced a price increase since last year. It last posted a price hike (also of $60/st) on Nov. 28, 2023, according to SMU’s price announcement calendar.
Plate prices have fallen steadily but significantly over the last year. SMU’s plate price now stands at $910/st on average. That’s down 3.2% from $950/st a month ago and 38.3% from $1,475/st a year ago.
Michael Cowden
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