SSAB Americas raises prices for heavy plates by $100/t

Steel company SSAB Americas has announced a $100 per short tonne price increase for its heavy plate products. This was reported by SMU with reference to a letter to customers dated February 19, 2025.

The price increase is effective immediately and applies to all new, non-contract orders. All published additional charges remain in effect. SSAB Americas also reserves the right to revise any open quotations that have not been confirmed by a formal order. Customers are advised to contact their sales representatives starting February 24 to confirm April pricing and production schedule. The company is currently not accepting orders for May.

This is SSAB Americas’ third price increase in the last month, for a total of $240 per short ton. Earlier, the company raised prices by $80 in early February and by $60 in late January.

SSAB Americas is a subsidiary of the Swedish steel giant SSAB and operates plate mills in Mobile, Alabama, and Montpelier, Iowa.

One distributor in the US Midwest noted that this price increase may not be acceptable without similar action from other producers such as Nucor. He also expressed concern about possible tariffs on shipments from SSAB Americas’ Canadian subsidiary in Ontario to the US, which could affect orders and production.

The current situation in the steel market remains unstable, and market participants are closely monitoring the actions of leading producers and possible changes in tariff policy that could affect prices and supply of steel products.

Earlier this week, Nucor announced another increase in the spot price for hot-rolled coils. Starting from February 17, 2025, the base price will be $820 per short tonne for all of the company’s production facilities, except for California Steel Industries, where the quotes reached $880 per tonne. In addition, the company increased the price of wire rod by $70 per short tonne, effective from February 14.