Published by:Melissa VanDervort<>
20 May 2025 @ 20:12 UTC

US plate prices declined on Tuesday May 20 amid a muted market, characterized by weak demand and cautious buying behavior, sources said. Fastmarkets’ weekly assessment for steel cut-to-length plate carbon grade, fob mill US was $56 per hundredweight ($1,120 per short ton) on Tuesday, down by 1.75% from $57 per cwt on May 13.
Inputs were collected in a range of $55-56 per cwt, representing deals, offers and general assessments of the spot market.
The domestic plate market is quiet, with somewhat tepid demand, sources said.
It appears that the [plate] steel market continues to trend downward, a buyer source said.
Market participants anticipate that muted demand will persist into the seasonally slower summer months, with buyers continuing to take a cautious approach to spot purchases amid lingering economic uncertainty.
[The] plate mills [are] desperately trying to bridge the gap through the summer months and [the mills] need orders, a distributor source said.
A second distributor source said that there were rumors of a possible mill plate price reduction in the near term.
I heard there was going to be a $2.00 [plate price] decrease [in the near future], but I doubt we’ll see a [price] decrease, the second distributor said. [There’s] no need for [a price cut] at this time.
Lead times are at four to five weeks, sources said.