SMU Price Ranges: Market stabilizes as summer slowdown begins

Most sheet and plate prices edged lower again this week, albeit at a slower pace compared to the movements seen over the last seven weeks. Buyers remain cautious and hesitant to hold onto much inventory, citing lingering demand concerns, ongoing tariff uncertainty, and a potentially weakening scrap market in June.

Two large service center buyers weighed in on current market conditions, citing tariff uncertainty and short-term price pressures. One exec remarked, “Prices are trending down and it seems pretty clear to me that tariff uncertainty started this lull in activity and continues to slow business.” Another anticipated a potential rebound, saying, “If prices get hit hard in the next month, it’s hard to see that they would continue to fall – I imagine they will dip and then head back up.”