Category: Prices

A report on the sheet market this week.

Lower finished steel imports continued to support US domestic prices this month. HR coil prices are up more than $40 per metric ton (mt) month-on-month (m/m) due to higher seasonal demand in January and tightening domestic supply.

The plate market’s swell of optimistic sentiment marking the start of 2026 dissipated this week.  

The price gap between US hot-rolled coil (HR) and landed offshore product has been relatively flat to begin the year.

Just over a third of the steel buyers who responded to our market survey this week reported that domestic mills are willing to talk price to secure new spot orders.

SMU’s sheet price indices climbed to new multi-month highs this week, while plate prices marginally declined.

Nucor’s consumer spot price (CSP) for hot-rolled coil increased to $960 per short ton (st), up $10/st vs. the prior week.

SSAB Americas, Nucor, and Oregon Steel Mills all announced higher plate prices on Friday.

Sheet prices are set to stay weak in China, hold steady in India, while they are set to rise in the EU and US due to protectionist limits on imports.

Though they’re hopeful, domestic sheet market sources didn’t share a bullish outlook on the market this week.

The opening weeks of 2026 are revealing a subtle but important change in the HRC futures market, as tightening physical conditions begin to exert greater influence over pricing dynamics.

Participants in the domestic steel plate market said they are maintaining strong order books, experiencing longer lead times, and finding mills are less open to negotiating prices.

The price spread between domestic hot-rolled coil and prime scrap widened for a fourth consecutive month in January, based on SMU’s most recent pricing data.

The majority of SMU’s sheet and plate price indices rose this week, with multiple products climbing to new multi-month highs

Ferrous scrap prices jumped on all the products SMU tracks in January, scrap sources said.

Nucor’s consumer spot price (CSP) for hot-rolled coil remains unchanged at $950 per short ton (st) for the fourth consecutive week.

Steel plate market participants think increasing spot prices and growing order volumes could stick around. That’s two encouraging signs for the year ahead, they said. Oregon Steel Mills, SSAB, and Nucor all increased base prices for plate products by $40 per short ton (st) in the final weeks of December. SMU data also indicates that mills […]

Sources in the domestic hot-rolled sheet market say they are standing by for an uptick in customer demand. These service center market participants, located in various regions of the US, expect to handle an influx of customer orders this month. 

Steel sheet and plate prices rose across the board to start the year on limited spot availability at some mills, expectations of higher scrap prices, and hopes of stronger demand in 2026.

Nucor kept its consumer spot price (CSP) for hot-rolled coil unchanged at $950 per short ton (st) for a third week.

Oregon Steel Mills has joined other producers, announcing a price increase of at least $40 per short ton (st) for steel plate. The Portland, Ore.-based company told customers on Monday that the minimum increase was effective immediately with all new orders. It applies to all carbon, HSLA, hot-rolled coil, normalized, and quenched and tempered products, […]

Nucor kept its consumer spot price (CSP) for hot-rolled coil unchanged at $950 per short ton (st).

SSAB Americas aims to increase prices on all its products by at least $40 per short ton (st).

Nucor Plate Group notified customers it was aiming to increase all plate product prices by $40 per short ton (st). 

Nucor raised its weekly hot-rolled coil spot list price by $10 per short ton (st) this week, marking the company's ninth consecutive increase.

The export market in the Atlantic Basin has seen significant strengthening during Q4 as 2025 comes to a close. The strength has been mainly driven by Turkish buyers, but Italy has also been a contributor. 

US Midwest sheet prices continued to rise alongside continued mill prices increases as lead times remained extended.

The price gap between stateside hot band and landed offshore product continues to narrow, inching closer toward parity. The premium is now, on average, at its lowest level since July.

Following last week’s pause, SMU’s price indices were overall steady to higher this week, holding at or near multi-month highs.

SMU and AMU are pleased to announce that Wells Fargo Managing Director Timna Tanners will be joining us for a Community Chat webinar on Wednesday, Dec. 17, at 11 am ET.