SSAB Americas Raises Flat Steel Prices by $60 per Ton Amid Market Slump

SSAB Americas Announces Price Increase for Flat Steel Products

SSAB Americas, the US division of Swedish steelmaker SSAB, plans to raise prices for all flat steel products by at least $60 per short ton. The price hike takes effect from November 2 for all new orders, excluding existing contracts. The company cited challenging market conditions as the primary reason for the increase. SSAB Americas operates rolling mills in Mobile, Alabama, and Montpelier, Iowa, supplying the US steel market with flat steel products.

The price adjustment also includes continuation of existing surcharges, regional transport premiums, and fees for non-priority transportation methods. This move aims to improve SSAB’s profitability after several months of declining prices.

Market Conditions Driving SSAB Americas’ Price Adjustment

The US sheet metal price currently averages $960 per short ton, down from $1,030 in August and a peak of $1,210 in April. The steel market has faced weakening demand and excess supply in the US, contrasting with Europe’s rising prices driven by regulatory expectations. Meanwhile, China’s hot-rolled coil prices remain steady amid high inventories and sluggish exports.

SSAB Americas’ price increase reflects efforts to stabilize margins and prepare for an anticipated uptick in orders from construction and engineering sectors as the year closes. The company’s strategic response highlights ongoing volatility in global steel markets.

SuperMetalPrice Commentary:

SSAB Americas’ decision to raise flat steel prices illustrates the tight balancing act steel producers face amid shifting demand and supply dynamics. While the US market struggles with oversupply and weakening demand, global factors like European regulations and stable Chinese output add complexity. Price hikes are essential for maintaining margins but may test demand resilience as industries brace for end-of-year projects. Monitoring SSAB’s next moves will be key for stakeholders tracking steel pricing trends.