Analysis
June 25, 2026
Some plate market sources see spot price increases ahead
Written by Kristen DiLandro
Participants in the domestic plate market anticipate incoming price notifications before the end of the month, SMU learned in recent conversations.
One plate market source believes a domestic mill will be raising prices by $120 per short ton (st), but further investigation yielded no evidence. When SMU asked an additional source whether the three-digit per st hike seemed likely, he thought that was a little too ambitious.
Most think a hike that substantial with lead times so extended will erode demand and create larger project delays.
Market commentary
A Middle Atlantic service center source expressed uncertainty about the lofty price hike.
“That would be a LOT! The lead times are extended, and demand is solid, but $120 I can’t see. But I guess nothing surprises me,” he said. “Can’t see it for plate since Nucor just raised $60/ton a short while ago for August rolling.”
On Friday, June 5, Nucor announced its August spot price for plates would increase by $60/st.
Another service center source said he thinks hikes will be ambitious but agreed $120/st would only drum up interest in imports.
“I think it’s possible, but no one would chance it unless they were sure they could hold the business,” he said.
A regular steel sheet and plate importer on the West Coast reflected on how consistently strategic the company’s inventory planning continues to be in markets like this.
“We have plate from Korea in our warehouse and rails arriving from a domestic mill of product we purchased three months ago at those prices,” he said. “We are in very good shape. I think the market will hold through November when the holidays roll around.”
Prices
Tuesday’s plate market price assessment on June 23 found spot prices stayed flat week over week (w/w). The range for spot market plate transactions occurred between $1,240-1,340/st, with most buying spot plate for $1,290/st.
All prices are ex-works domestic mill.
