Domestic plate prices could heat up despite so-so demand, market sources say

And that might make plate more attractive than sheet, which continues to see lethargic activity, they said.

Sources speculated that any additional price hikes would be supported by modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.

Recall that domestic plate mills in September announced price hikes of $60 per short ton (st).

Voices from the market

“Plate has a bit of an upside going for it,” a steel trader told SMU this week. “I would not be surprised to see some attempts at a modest price increase attempt before year end or, worst case, a further lessening of mill price discounts.”

A source at a Midwest service center agreed. He said his plate business is more active than his sheet business. He also noted that his company does not have customers involved in automotive or in renewable energy projects – which he considers a positive.

“Plate has managed to get a nice increase. Our sales are steady. We have already met our targets. [It is] probably because we don’t rely on struggling automotive customers. Also, not reliant on wind customers,” he said.

He suspects that as line pipe demand increases, plate production will increase too – likely a byproduct of less restrictive regulations on energy exploration and transmission.

“All this activity will spill into 2026. Military, mining, energy extraction, and exploratory equipment. That’s all going to increase demand for plate. Prices will naturally increase,” he said.

Another Midwestern service center source said maintenance outages were well timed for domestic mills. And the resulting drop in supply could help to increase plate prices.

“It’s a good time to put less plate products out into the market. That certainly helps bulk the price up,” he said.

Prices

SMU’s price assessment for plate stands at $970 per short ton (st) on average. That’s $50/st higher than $920/st this time last year. SMU will next update its sheet and plate prices on Tuesday.