Analysis
March 6, 2026
Plate sources eye imports, cite domestic supply concerns
Written by Kristen DiLandro
Plate sources say they’re welcoming imports as domestic mill delivery delays, extended lead times, and climbing prices make fully adopting US-produced plate products unrealistic.
Both Oregon Steel Mill (OSM) and SSAB informed customers that spot prices were now up a minimum of $60 per short ton (st.).
OSM’s March 5 notice specified the price increase applied to all orders effective immediately, while SSAB noted it was applying the change to “all non-contract orders confirmed to ship May 3, 2026 and beyond.”
In SMU’s latest lead time survey, participants noted that plate lead times are higher than they were 3 months ago.
Market commentary
Sources throughout the US confirmed that imported plate from South Korea would be arriving at an attractive cost. They said that even with tariffs, plate products from Canada were a timely and competitively priced alternative. However, one source noted concerns about timing on Korean plate. The service center source noted that unforeseen logistical complications as a result of conflict in the Middle East could delay the cargo’s May/June delivery.
SMU has not verified import prices, but sources contend spot transaction prices on imported plate range from $970/st to $990/st.
As for the overall market conditions this week, participants saw better demand than in past weeks.
A West Coast-based service center source said he expected the mill price hike. He anticipates a new notice will land from Nucor Plate Group any day now.
“Plate! Those guys are busy, and I look forward to another increase from Nucor again this month,” he said.
One service center and distributor located in the Midwest agreed this week was busy.
“We keep seeing the prices climb but have been unable to collect. The war in Iran may change the entire domestic dynamic. If certain mills are at capacity producing for the military, that constricts the already tight supply, which I’m seeing. Supply is shrinking, so increases should start to stick soon,” he said.
He added, “Business is picking up. It’s still inconsistent, but we’ve had a (heck) of a stronger week with large projects. Unfortunately, still quoting at weak levels.”
An East Coast service center operator does not believe the OSM or SSAB increases will stick unless Nucor also raises its prices.
“These are unicorn increases. SSAB tries to up its prices all the time. Until the Nucor gods bless an increase, it doesn’t exist. I hope they increase prices. Steel is cheap,” he said.
Prices
SMU’s weekly price assessment, conducted each Tuesday, found a $35/st jump in plate prices this week.
The price range spanned $1,090-1,140/st, and the average transaction price landed at $1,115/st.
In the equivalent week of 2025, the average spot price for plate was $1,130/st.
Compare historical pricing data for steel and scrap products using the SMU Interactive Pricing Tool.
All prices are ex-works domestic mill, base prices unless otherwise noted.
