Category: Plate

Domestic plate market participants named extended lead times, increased freight costs, escalating fuel surcharges, and spotty demand as their most recent challenges.  

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.

Sheet prices continue to rise in a market that remains characterized by extremely limited spot availability, solid demand, long lead times, and the lowest sheet inventories since May 2021.

Trading-company sentiment in the May 15 SMU flat-rolled steel buyers survey shows a market split between anecdotal optimism and numerical decline.

The Commerce Department's International Trade Administration recently concluded several administrative reviews of the anti-dumping and countervailing duties (AD/CVDs) on various steel imports. The reviews resulted in the following duty adjustments.

Domestic raw steel production ticked up to the highest weekly output rate recorded since March 2020, according to recently published American Iron and Steel Institute (AISI) data.

Nucor Plate Group will maintain its previously announced fuel surcharge of $10 per short ton for next month, effective on all shipments beginning June 1.

Grupo Acerero SA de CV posted higher shipments and stronger profitability in the first quarter of 2026.

Apparent steel supply surged 11% from February to March, recovering from one of the lower rates recorded in recent years to one of the higher ones.

India-based JSW Steel’s combined US operations swung to a slight profit in its fiscal fourth quarter of 2026.

US service centers’ flat-rolled steel supply fell for a fourth straight month in April, with shipping days of supply slipping to 45.7 on an adjusted basis, according to SMU data.

SMU Survey: Sheet and plate lead times remain extended, according to buyers responding to our latest market survey.

Buyers continue to report mills are holding a firm grip on sheet and plate prices.

Plate market participants wonder how plate supply will hold up in coming weeks and months, sources told SMU.   Some sources called out dwindling availability of heavier grades and said certain domestic producers have “a huge backlog.” of all grades.

Algoma Steel's loss widened in the first quarter as tariffs and the EAF transition impacted its bottom line.

US steel exports improved in March but remain historically low, having trended lower for over a year now.  

All five of SMU’s sheet and plate price indices ticked higher this week, rising further to new multi-year highs. Prices increased between $5-25 per short ton (st) from last week and are $30-65/st higher than they were one month ago.

In a May 11 price notice, SSAB upped its transaction prices for new, non-contract plate orders confirmed to ship from June 28 onward.

Plate market participants expect additional base price hikes from domestic mills, something that has some eyeing imports.

Following the historical lows seen in recent months, steel import volumes marginally increased in March and April.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.

Steel traders continue to report strong interest from North American buyers, with their import orders ticking higher, according to our latest survey results. Many manufacturers and service centers, however, report that they have not yet taken the bait.

Sheet and plate prices remained on an upward trend as industry sources increasingly asked whether improved demand might be driving the market as much as limited supply.

Domestic raw steel production increased to a new multi-year high last week, per AISI figures.

Chinese major Baosteel will re-evaluate its investment in a steel plate making joint venture in Saudi Arabia because war in the Middle East has added uncertainties to the project, Baosteel Chairman Zou Jixin said.

Oregon Steel Mills (OSM) is attempting to push spot plate prices up by a minimum of $60 per short ton (st).

Steel mill lead times continue to hold at or near multi-year highs for both sheet and plate products, territory they have been in two months.

This week we saw low negotiation rates across all products, though coated products are the most negotiable and plate products are the least.

Market sources say 2026 could be a stronger year for plate market participants than 2025 if this week’s conditions are indicative of how the rest of the year plays out.  

Nucor executives said US steel demand remains stable, with pockets of strength in data centers, energy, border fence work, and infrastructure.