Market Data
January 15, 2026
Plate market sources say 2026 is off to a bullish start
Written by Kristen DiLandro
Participants in the domestic steel plate market said they are maintaining strong order books, experiencing longer lead times, and finding mills are less open to negotiating prices.
Some sources said they even made opportunistic buys for their service centers. Without imported steel supporting the overall plate supply in market, supply could become constrained.
Stocking some additional inventory allows the centers to remain agile and competitive if the supply chain tightens. Assuming buyers who once leaned on imported plate are now purchasing from domestic producers, service centers with stock could be at an advantage compared to those who are relying solely on just-in-time delivery.
Optimism about increases in end market demand drove some of the participants to proactively stock. Sources named data center construction projects as one of the major factors that has driven them to increase supplies. The bullish outlook for the year leads participants to believe more mill price hikes are on the way.
Market Sources Say
A Midwestern service center associate who said his organization made major purchases within the last two weeks said his orders increased this week.
“Business is picking up. I believe the numbers will get stronger in February. I hear that some structural mills are already booked through August,” he said.
He also said, “I believe we have one of the largest inventories in North America. That gives us negotiating power that others without tons don’t get. I think the next increase will come and be accepted. We are considering whether to raise our prices.”
A second source from a different service center in the same region operates with much less inventory. However, this second source admitted that seeing the market conditions drove his business to make purchases that would assure him they could compete against bigger centers.
“We beefed up. Lead times are starting to extend. Yes, a major domestic mill continues to make deliveries late. No availability issues for tons but late deliveries for sure,” he said.
“Personally, I think they have overbooked a couple of their mills which will extend lead times. I also see another price increase is lurking in the near future. I’m guessing $40/[short] ton but we’ll see,” he added.
The second Midwest service center source does not see demand increasing right now, but he believes an uptick is likely.
“I see supply side increases in Q1 until some real demand kicks in in Q2. Our day-to-day sales are still spotty, but processing, contract, and projects are doing well,” he said.
On the East Coast, a service center representative said that the market will accept an additional increase from producers because demand continues to improve.
“I definitely see more price increases coming. Business is good. We’re paying more since December and expect to see another increase in February. I don’t think it will be a large increase, but I do see the market accepting it,” he said.
He also said that his organization will continue to add stock and that he does not foresee prices decreasing in the near term.
The same East Coast source said he told a customer who was trying to find lower prices that he should “go find a time machine.”
Plate prices
On Tuesday, SMU’s weekly spot price assessment found that plate transactions ranged $1,010-$1,100 per short ton (st). The average price equaled $1,055/st.
This week’s average price reflects a 19.4% increase compared to the equivalent week of 2025 when the average spot price of plate was $850/st. Use SMU’s Interactive Pricing Tool to explore steel prices.
