Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.
Steel mill lead times ticked lower across most sheet and plate products this week, according to responses from SMU’s latest market check.
Mills are more willing to negotiate spot prices for both sheet and plate products, according to our latest market survey results.
September service center shipments and inventories report for sheet and plate
SMU’s HR price stands at $800/st on average, up $5/st from last week. The modest gain came as the low end of our range firmed, and despite the high end of our range declining slightly.
SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).
Some sources also speculated that plate could see further price increases thanks to modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.
Participants in the hot-rolled sheet market expressed frustration with the continuing lack of demand this week.
Sheet and plate lead times saw minor shifts this week, according to SMU’s latest market survey. Sheet times have inched up over the last month but remain within days of multi-year lows, as they have since May. Plate lead times have bobbed within a tight range for months, hovering roughly a week longer than this time last year.
Steel buyers say mills remain slightly more willing to negotiate spot prices for sheet and plate products than in mid-September, according to our latest market survey.
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."
We moved our pricing momentum indicators from “lower” to “neutral” for all sheet products this week. For those keeping score, we had been at “lower” for six weeks. And I know some of you think we should have been there for even longer.
Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.
Nucor aims to increase prices for steel plate by $60 per short ton with the opening of its November order book.
Upended by the Trump regime's tornado of tariffs, Algoma Steel is pivoting on its cross-border business model, shifting its focus to supplying the Canadian market.
Domestic plate market participants are optimistic about the market despite the ongoing uncertainty that’s characterized most of 2025, sources said.
Canadian flat-rolled steelmaker Algoma Steel is reconsidering its presence in the US market after the doubling of US Section 232 tariffs on imported steel to 50%, a company spokeswoman said.
Sheet and plate prices were flat or lower this week as less discounting from domestic mills was offset by few signs of an anticipated rebound in demand.
Nucor Plate Group announced that its patent-pending wide floor plate product is now available to customers in a statement on Monday.
Participants in the US carbon and steel plate market are frustrated by the lack of activity following the Labor Day holiday weekend.
Sheet times ticked higher but remain within days of multi-year lows, territory they have been in since May. Plate lead times have shifted lower in the past month but remain about a week longer than they were at this time last year.
JD Fields HDM Spiralweld Mill is planting roots at Tradepoint Atlantic with a 200,000-square-foot pipe pile fabrication center.
Sheet and plate buyers say mills remain open to negotiating spot prices this week, though less so than in recent weeks, according to SMU’s latest market survey.
US service centers flat-rolled steel supply in August declined month-over-month (m/m) and year-over-year (y/y), according to SMU data.
SMU’s price ranges were mixed again this week as the market continues to seek a floor amid industry hopes for a Q4 rebound.
Following a 3% decline in June, the amount of steel shipped outside of the US edged up 1% in July to 623,000 short tons. July was the sixth-lowest monthly export rate since the COVID-19 pandemic, and...
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.