Plate market participants anticipate producer hikes

This week, however, plate sources offered no regional distinction. They unanimously expect domestic producers to increase spot prices in the immediate future.  

Market Commentary 

A service center associate located on the West Coast said plate demand is outpacing coil demand right now. His operation handles sheet, plate, and pipe and tube. He continues to see more dynamism in the plate market, he said.  

“I think plate is probably a better market, but I may be biased because we’re doing well in plate, currently. In the West, we don’t have industrial manufacturing anymore. It’s all light, so we don’t require as much HR [hot rolled coil] as we utilized 20-30 years ago,” he noted. 

Adding, “Mills are getting busier and imports are out. Yes, I expect the mills won’t let up on plate prices.” 

A sales associate for a mid-sized Mid-Atlantic-based service center said he is certain domestic mills will have to raise plate prices soon.  

“I fully expect a plate price to increase today or next week. By how much is the question. It could be $40, $50, $60, maybe higher…  guessing in the $40-60 range, but we’ll see,” he said.  

The same salesperson described a large domestic manufacturer as a challenge, which he contends, redirects demand to the more dependable domestic suppliers. Those suppliers are then extending lead times.  

As plate demand swells, the lack of imports and the unreliability of a prominent domestic plate producer are causing plate supply constraints.  

“Availability seems to be tightening , and mills are late on their ship dates. One mill is relying on its reserve of products,” he said.  

He explained that a domestic plate producer is tied up with its commitments to its oil and gas clientele, and if it were able to offer spot transactions outside of its commitments, the mill is currently experiencing operational issues. 

“One mill’s work/production issues combined with being busy in Texas and Oklahoma with oil and gas orders limit market supply,” he said.  

He noted, “lead times seem more like six-to-eight weeks as plate mills claim they are close to closing March. We haven’t had production issues other than our processing is swamped and our lead time is mid-March in both locations.” 

One Midwestern-based service center operator said that his sales were inconsistent. Supply constraint, he said, is amplified by lack of plate imports from Canada. While he is confident prices will increase, he fears subdued demand.

“Scrap prices will go up, and that will push the numbers up. We keep trying to move our prices up but none of our competitors do so, we’re stuck. Business is inconsistent right now, but we think it will improve shortly,” he said.  

Adding, “we will for sure see the mills push out price increases soon.” 

The sole mill source SMU spoke to added, “We have seen improved pricing and activity recently. We anticipate that to continue.” 

Prices 

The same source in the Mid-Atlantic said, “I am currently seeing delivered prices offered at $53.50/cwt – 56/cwt [$1,070-1,120/st]. Your base price seems accurate.” 

This week, SMU’s price assessment found that base spot prices for plate was $1,030-1,080/st. The average transaction price was $1,055/st.  

The Midwestern market participant confirmed the SMU weekly price, saying, “Your numbers are correct. I expect that the range will tick up soon, though.” 

In the equivalent week of 2025, the average domestic spot price transaction was $910/st. This week’s average is up by 16%. 

Use the SMU Interactive Pricing Tool to assess historic pricing data.  

All prices are ex-works domestic mill base prices unless noted.