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    Plate

    February 28, 2025

    Plate Report: Prices rally on mill increases, higher scrap, and Trump tariff threats

    Written by David Schollaert

    US plate prices have moved up at a sharp clip over the past three weeks. The gains come on the heels of a unified mill pricing blitz, bolstered by the threat of looming tariffs and the expectation of sharply higher scrap prices.

    Prices hit their lowest level in more than four years in late January, a fraction of their all-time high of $1,940 per short ton (st) in May 2022. But that almost feels like ancient history now.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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