Analysis
December 3, 2025
US plate market welcomes price increases from producers
Written by Kristen DiLandro
Sources expect the recent spot market price hikes on domestically produced plate products to be accepted by the market.
Since Monday, Nov. 24, Oregon Steel Mills, SSAB, and Nucor Plate have all issued spot price increases of $30-40 per short ton to customers. These follow a $40/st hike by JSW two weeks earlier.
A plate service center associate in the Midwest said the recent spot price increases from mills serve as another key data point for him. He said his customers have been discussing energy, military, rail, mining, and steel equipment projects slated to go live in the first quarter. He sees the price hikes as potentially an indication that producers foresee this uptick in demand.
“My evidence is anecdotal, but I’m an optimist. My customers tell me their projects are gaining steam going into January. Business is slow but picking up. It will be a little while, but these prices will stick,” he said.
Adding, “Don’t be surprised if you see another round of increases in January. The tariffs have pushed a lot of projects back into the US. Also, the major slowdown with Algoma is helping US producers.”
The same service center source said JSW has become a serious player in the plate market. The company’s upgrades are more trusted than a source he typically relied on, which quoted him “over 12 weeks for a heavy plate buy.”
One Northeast-based plate service center operator underscored the first source’s points.
“I think the market is primed to support these increases. Demand is good and there are signs it will grow. I think we’re in for an additional increase in January because it will be hard to stay on top of the demand,” said the East Coast source.
A West Coast-based distributor is less bullish on the steel flats market overall. He sees prices rising due to supply chain issues that have curbed imports of slabs, which domestic producers rely on to make plate products.
“Outside of data centers, I see no evidence of downstream demand. We have a problem with the quality of some domestic producers’ slabs. And, they need to get more efficient,” he contended.
This week, SMU assessed the average spot market plate price at $1,020/st. The price was flat week over week and reflects a three-month high.
In the equivalent week of 2024, the average spot market plate price was $860/st.
All prices are ex-works domestic mill.
