Analysis
March 20, 2026
Plate producers hold firm on pricing, demand stable but subdued
Written by Kristen DiLandro
Plate market sources say the week has been quiet, but that overall, business remains consistent.
Price hikes from SSAB, Oregon Steel Mills, and Nucor continue to find their way into an increasing number of transactions. Sources say competition for sales out in the market remains fierce due to inconsistent overall demand.
Participants contend that sellers who do not have to pass on increases continue to win business.
In SMU’s recent February service center shipments and inventories report, data showed that shipments of plates ticked down modestly in February, reflecting the slightly elevated inventory amount. The general extrapolation you can make from the data is that fewer orders were sent in February, and thus, inventory remained with service centers. The signal? End market demand isn’t significantly increasing shipments, tightening inventory, increasing orders to mills, and creating the need for additional utilization to meet end market demand.
Also note, in SMU’s bi-monthly survey assessing the willingness of mills to negotiate prices, plate respondents said mills are currently the firmest at holding plate prices they’ve been in three years.
Market commentary
One service center source located along the East Coast wonders whether more increases are on the way.
“It was not always like this. It used to be that every few months, mills upped prices by more than a couple bucks; now it’s lots of small amounts. I wonder if anyone will raise again at the end of the month. I think we’ll see another $3-5 [per hundredweight],” he said.
A distribution source in the Midwest expects energy demand to persist, but said the pressure to provide discounts to make sales runs high.
“Mining, oil, and gas are picking up. It’s good because we have inventory for them and can sell pre-increase,” he said.
Prices
In Tuesday’s SMU weekly price assessment, plate spot prices edged up on the low end by $10 per short ton (st). The average transaction price for spot purchases of plate ticked up by $5/st.
This week’s prices ranged from $1,100 to $1,200/st, with the average transaction price settling in at $1,150/st.
All prices are ex-works domestic mill unless otherwise noted.
