Tag: Plate

Algoma’s CEO touted the company’s plate production and its focus on the Canadian market.

Algoma Steel narrowed its earnings loss by 13.2% in the second quarter as the company's electric-arc furnace (EAF) steelmaking ramped up further.

SMU’s sheet and plate price indices were steady to higher this week, with all products at multi-year highs.

Foreign steel is gaining traction with US buyers, according to SMU's most recent Flat-Rolled Steel Survey. Most manufacturers and service centers now report competitive pricing, and more are placing new foreign orders.

Steel mill lead times have trended upward since last November and now stand at or near multi-year highs for all products.

The majority of steel buyers responding to our market survey this week report that mills are holding a firm grip on prices

Swedish steelmaker SSAB reported lower profits in the second quarter at its Americas unit. And it expects outage charges in the third quarter.

Spot market absorbs price hikes amidst booming plate demand 

Sheet prices continued to grind higher this week on factors familiar to most steel market participants: extremely limited spot availability, long lead times, low inventories, and firm demand.

Steel exports eased 1% in May and remain significantly lower than trade of previous years.

Some hot-rolled coil market participants said they're optimistic that the market will remain strong throughout the rest of the year. 

Monthly steel imports rose back above 2 million short tons (st) in May and June, further recovering from the historic lows seen late last year, according to recent Commerce data.

Some domestic plate market sources expect spot price rises through the end of the year due to prolonged supply constraints.

US service centers’ flat-rolled steel supply was down marginally in June, and lower for a sixth straight month. Shipping days of supply slipped to 44.5, according to SMU data.

Nucor plans to increase plate prices by $60 per short ton (st) with the opening of its September order book. It will also maintain its previously announced fuel surcharge of $10/st effective on all shipments beginning August 1

Oregon Steel Mills is attempting to push spot plate prices up by at least $60 per short ton.

Hot-rolled and cold-rolled prices held steady again this week while prices for coated products and plate continued to tick upward.

On the heels of SSAB’s price hike, further domestic mill increases to spot market plate seem inevitable to some participants but unlikely to others. 

Steel mill lead times for flat-rolled steel this week remained extended at historical highs. Plate production times crept out further, while hot-rolled and cold-rolled (HR/CR) coil saw minor contractions.

The majority of steel buyers we polled this week reported that mills are holding firm on new order spot prices.

Algoma Steel is in talks with ThyssenKrupp Marine Systems (TKMS) following the Canadian government's selection of the German company as the preferred supplier of submarines.

SSAB Americas plans to increase plate prices by at least $40 per short ton (st), according to a letter sent to customers on Wednesday.

Market reaction to Nucor’s move was mixed. Some sources said a flat CSP reflected concerns that further increases in US HR prices could attract more import competition. Others expressed frustration. Their view: CSP has kept a lid on prices, something that shouldn’t happen when many buyers remain more concerned about availability than price.

Algoma Steel Group expects lower shipments in its second quarter of 2026 but anticipates adjusted EBITDA to move back into the black.

Limited spot product and extended lead times continue to characterize the domestic plate market, prolonging upward price pressure.

Hot-rolled (HR) coil and plate prices continued to tick higher even as cold-rolled (CR) and coated prices came in unchanged, according to SMU’s latest check of the market.

Steel mill lead times remained extended this week on both sheet and plate products. Current production times three to four weeks longer than levels seen last summer.

Steel buyers negotiation rates remain at or near historic lows across most sheet and plate products.

Participants in the domestic plate market anticipate incoming price notifications before the end of the month, SMU learned in recent conversations. 

US sheet prices continue to move higher on extremely limited spot availability, solid demand, and extended lead times.