US plate prices have moved up at a sharp clip over the past three weeks. The gains come on the heels of a unified mill pricing blitz, bolstered by the threat of looming tariffs and the expectation of sharply higher scrap prices. Prices hit their lowest level in more than four years in late January, […]
Market participants might disagree over how high flat-rolled steel price might go and for how long they might remain elevated. But there is near total agreement on one thing: Prices are up sharply again this week. The gains come on the heels of waves of mill price increases (for sheet and for plate), expectations that scrap prices will rise again in March, and the threat of tariffs looming over the market.
Evraz North America (NA) has followed Nucor and SSAB with a plate price increase of its own: up $160 per short ton (st). The increase was effective immediately for all new orders of carbon, high-strength low-alloy, and normalized and quenched-and-tempered plate products, as well as for hot-rolled coil, the steelmaker said in a letter to […]
Nucor aims to increase prices for steel plate by $160 per short ton (st) with the opening of its April order book. The Charlotte, N.C.-based steelmaker said the increase was effective with orders received on Feb. 24 in a letter to customers dated the same day.
Buyers responding to our latest market survey reported that steel mill lead times were stretching out this week for sheet and plate products tracked by SMU. The results weren’t much of a surprise. Production times have begun moving out following a wave of frenzied buying in response to stricter Section 232 announced by the Trump […]
SSAB has increased plate prices by a total of $240/st in less than a month. That tally results from the current increase, an increase of $80/st in early February, and another of $60/st in late January, according to SMU’s price announcement calendar.
Mills’ flexibility on price for spot orders has taken a nosedive to levels not seen since the end of March 2023.
Flat rolled = 66 shipping days of supply Plate = 54.3 shipping days of supply Flat rolled US service center flat-rolled steel supply declined in January month on month (m/m) but is up about 10% year on year (y/y), according to SMU data. At the end of January, US service centers carried 66 shipping days […]
The latest in the new coated steel investigation and the expiry review of steel plate from six countries.
Each of the steel product prices tracked by SMU saw significant increases this week. All four of our sheet price indices rose by $30-50 per short ton (st) on average. Plate prices popped $60/st compared to the week prior.
Following the one-year low recorded in November, steel imports rose by 3% in December to 2.14 million short tons (st) according to final US Commerce Department data. January could be the highest month for steel imports witnessed in nearly three years.
Evraz, SSAB Americas, and Nucor have all followed up on their initial price bumps at the opening of their March order books with a second round of increases.
While we have seen some movements in recent weeks, steel mill production times remain within a few days of the historical lows observed over the last two years, a trend observed since mid-2024.
Steel mill negotiation rates have declined in each of our last two surveys; this week’s rate is the lowest recorded since March 2024.
SSAB Americas has again followed Nucor’s lead, raising plate prices by $80 per short ton (st). The increase is effective immediately for all new non-contract orders, as the steelmaker stated in a letter to customers on Wednesday, Feb. 5. “SSAB Americas reserves the right to re-quote any open offers not confirmed by an SSAB order […]
SMU’s steel price indices rose across the board this week. Sheet prices increased as much as $35 per short ton (st) compared to last week, while our average plate price ticked up by$10/st.
Nucor Corp. announced that its plate mill group was raising prices for as-rolled, discrete, cut-to-length, and normalized plate “in response to current market conditions.” The Charlotte, N.C.-based steelmaker said in a letter to customers on Tuesday, Feb. 4, after market close, that it would be seeking an increase of $40 per short ton (st). Nucor […]
SMU’s Monthly Review provides a summary of important steel market metrics for the previous month. Our latest report includes data updated through January 31st.
Repeated mill price hikes this week may have stopped the bleeding and could signal a rebound.
JSW Steel USA’s operations took earnings hits in the quarter ended Dec. 31. And Indian parent company JSW Steel believes potential tariff hikes by the Trump administration could hamper declining inflation in the US. JSW Steel USA operates the Mingo Junction slab and hot-rolled sheet mill in Ohio and the Baytown plate and pipe and […]
But the Swedish steelmaker is optimistic about a rebound
SMU’s sheet prices were mixed this week. Hot-rolled (HR) coil and plate notched gains while prices for coated products stagnated or dipped lower. Our HR price now stands at $700 per short ton (st) on average, up $15/st from last week and marking the highest level for HR prices since $705/st in early October. SMU’s […]
“More needs to be done to ensure that these illegally dumped and subsidized imports do not continue to distort the American market in a road profitability," Nucor's CEO said.
Two US plate mills – SSAB Americas and Evraz North America (NA) – have followed Nucor so far in raising plate prices, with the opening of their March order books. The increases are effective immediately for all new orders, both mills said in letters to customers. Evraz NA said it was increasing transactions by at […]
Nucor Corp. announced that its plate mill group was raising prices for as-rolled, discrete, cut-to-length, and normalized plate with the opening of its March order book. The Charlotte, N.C.-based steelmaker said in a letter to customers on Monday morning, Jan. 27, that it would be seeking an increase of $60 per short ton (st). Nucor […]
Steel mill lead times were mixed across the sheet and plate products SMU tracks, according to buyers responding to our latest market survey.
The majority of steel buyers we canvassed this week continue to report that mills are willing to negotiate prices on new spot orders, though not as much as they were in early-January.
Sheet and plate prices remained in a holding pattern this week as the market awaited more specifics on potential Trump administration tariffs.
Flat rolled = 77.1 shipping days of supply Plate = 58.1 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers ballooned in December with higher inventories as well as seasonally lower shipments. At the end of December, service centers carried 77.1 shipping days of flat-rolled steel supply on an adjusted basis, […]
Steel prices ticked lower this week for four of the five products SMU tracks, according to our latest canvass of the sheet and plate markets. Following last week’s bump, our hot rolled, cold rolled, galvanized, and plate indices all edged lower this week by $5-15 per short ton (st) on average. Galvalume was the only […]