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    SMU Price Ranges: Sheet and plate products inch higher

    Written by Brett Linton


    Sheet and plate steel prices moved higher in unison this week. SMU’s price indices rose $5-15 per short ton (st) from last week, with many now up to multi-month highs. Prices are now $10-45/st greater than the levels recorded four weeks ago.

    Buyers remain cautious as prices continue to tick higher. Demand is reported to be marginally adequate, and confidence still fragile. Sources report firmer mill pricing with limited discounts and tighter spot supply.

    Brett Linton

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    Plate supply squeeze tightens as demand presses higher

    The domestic plate market is showing few signs of relief for steel buyers. Lead times are stretching well beyond seasonal norms, spot availability has all but evaporated, and mills are drawing hard lines on contract volumes heading into 2027 negotiations. And the supply squeeze will likely intensify in a market that some industry sources say is structurally undersupplied because of stringent US trade and tariff policies. Imports have been arriving in larger volumes, and the expectation is they will continue to tick higher into 2027. The big question is whether those foreign tons will arrive in volumes sufficient to provide the relief steel consumers want.