• Skip to main content

    Plate

    November 9, 2021

    SMU Price Ranges & Indices: More Declines for Sheet, Plate

    Written by Brett Linton

    Steel Market Update’s check of the market this week shows both flat rolled and plate prices declining by another $10-25 per ton. The declines were not unexpected and are in line with the downtrend that has materialized in the last two months as seasonal dips in demand and competition from imports put pressure on domestic prices. The benchmark price for hot rolled now averages $1,855 per ton, down $20 in the past week and a $100 decline from the peak of the market in early September. Prices for cold rolled and coated products are down $10-15 per ton, while plate saw a slightly bigger dip at down $25 despite price hikes announced by mills in recent weeks. SMU’s Price Momentum Indicator is pointing Down for hot rolled, but remains Neutral for other products until their trend is more firmly established.

    Hot Rolled Coil: SMU price range is $1,775-$1,935 per net ton ($88.75-$96.75/cwt) with an average of $1,855 per ton ($92.75/cwt) FOB mill, east of the Rockies. The lower end of our range decreased $70 per ton compared to last week, while the upper end increased $30. Our overall average is down $20 per ton from one week ago. Our price momentum on hot rolled steel is Lower, meaning we expect prices to decrease over the next 30 days.

    Brett Linton

    Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

    Read more from Brett Linton

    Latest in Plate

    Sheet and plate price gains accelerate as 2026 tons dry up

    Sheet and plate prices continue to push higher as mills charge a premium for what little spot tonnage remains for 2026, market participants said. SMU’s price assessment for hot-rolled (HR) coil now stands at $1,290 per short ton (st) on average, up $10/st week over week. HR price gains averaged $5/st w/w throughout July and August, with no changes in prices some weeks and gains of at most $15/st w/w. In September and October to date, in contrast, prices have increased every week—with the average gain at $11.25/st w/w and w/w gains as high as $20/st. Prices for cold-rolled and coated products continued to increase as well. SMU's price assessment for cold-rolled (CR) coil clocked in at...

    Nucor Plate Group doubles fuel surcharge to $40/ton for November

    Nucor Plate Group said it will increase its fuel surcharge to $40 per short ton (st) next month, effective for all shipments beginning Nov. 1. The Charlotte, N.C.-based steelmaker first said in April that the fuel surcharge was necessary to address rising costs, initially setting the surcharge at $10/st on April 16. The company had previously maintained the $10/st surcharge rate for four straight months through Aug. 17. But it has since doubled its rate in back-to-back months—increasing its surcharge to $20/st in September, followed by its Oct. 15 notice to $40/st. “We remain committed to providing reliable service and transparency as we adapt to changing market dynamics,” Nucor said in a letter to customers on Thursday evening. Nucor announces the surcharge amount on or about the 15th of each month for shipments beginning the following month.

    supply

    September service center shipments and inventories report

    US service centers’ flat-rolled steel supply increased marginally in September, gaining ground for only the second time all year. Shipping days of supply rose to 45.9 last month, according to SMU data. That figure marks a 3.7% increase from August. September’s result represents a modest gain after inventories hit a five-year low the previous month. But it’s nearly 16% below September 2025 levels. Sheet inventories have averaged ~45 shipping days of supply over the past six months. Flat-rolled inventories represented 2.18 months of supply in September, up 3.7% from August. However, the figure was 15.5% below September 2025. The month-on-month (m/m) gain in inventories resulted from a boost (+21.2%) in intake that was partially offset by a 5% increase in shipments.

    US flat-rolled steel import licenses hit a 14-month high

    US flat-rolled steel import licenses climbed in September, extending a recovery after several months of depressed inbound shipments. Licenses rose 4.9% month on month to 679,889 short tons (st), their highest level in 14 months and 29.1% above the 12-month moving average (12MMA) for August, according to Commerce Department data. The increase was led by cold-rolled sheet and other metallic-coated products, with particularly sharp gains in licenses from Turkey, Taiwan, and South Korea. Hot-rolled sheet licenses eased from August’s 19-month high, while galvanized sheet, coiled plate and cut-to-length plate also slipped month on month. Even so, licenses for hot-rolled sheet and both plate categories remained elevated relative to their recent averages, pointing to continued strength across several product lines.