For the Quarter Ending March 2025
North America
In Q1 2025, the Steel Plate market in North America experienced considerable volatility, closing the quarter at USD 1279/MT for Steel Plate (20 mm) Ex Works Texas (USA). This marks an increase compared to Q4 2024, reflecting a dynamic market influenced by multiple factors. Early January saw stable prices supported by adjustments from major producers like Nucor. However, by mid-January, prices declined by 1.5% due to weak domestic demand and increased competition from imports. Market conditions stabilized later in the month as mills reported moderate supply levels and lead times extended to 4.5 weeks.
February brought renewed upward momentum with price increases driven by heightened demand and significant scrap price fluctuations. Nucor's subsequent price hikes resulted in a cumulative increase of approximately $280 per short ton over the month. Despite positive sentiment, the market faced challenges including labor shortages in the construction sector, tariff pressures, and rising material costs.
By late March, the market exhibited mixed demand conditions, with signs of stabilization reflecting both seasonal buying patterns and concerns regarding future economic performance. Overall, the quarter-ending price for Steel Plate, indicating a robust yet complex landscape as participants navigates ongoing challenges and opportunities.
Europe
In Q1 2025, the Steel Plate market in Europe, particularly in Germany, showcased relative stability amidst a backdrop of volatility, ending the quarter at USD 861/MT for Steel Plate (16 mm) FD-Ruhr. Initial pricing trends in January were characterized by stability despite subdued demand from the eurozone construction sector and cautious buying behaviour post-holiday season. Manufacturers announced price increases, but these offers struggled to gain traction, hampered by regulatory concerns and weak market conditions. As January progressed, prices remained stable with the market gradually reacting to reduced import volumes and expectations of restocking activity among buyers. Early February witnessed mixed results, with slight increases in sentiment driven by hopes for a rebound in steel demand, despite ongoing challenges in construction and automotive sectors. By March, the market reflected caution, as participants awaited clarity on European Union import regulations while managing rising production costs. However, this quarter displayed notable volatility as market conditions evolved. Overall, stakeholders are navigating a complex landscape marked by uncertainties and pressures on demand and pricing dynamics.
APAC
In Q1 2025, the Steel Plate market in the APAC region experienced notable volatility, culminating in a quarter-ending price of USD 696/MT for Mild Steel (JIS 3101-10 mm) Plate Ex Osaka (Japan), reflecting a decrease compared to Q4 2024. Early in the quarter, prices remained stable due to production adjustments and cautious buying behaviour influenced by the holiday season and uncertainties in both local and international markets. January witnessed slight downward trends in prices as weak demand from key sectors, particularly construction and automotive, affected market conditions. Manufacturers faced regulatory challenges and low purchasing activity, prompting them to position themselves strategically. By mid-February, while there were some indications of stabilization, overall buyer confidence remained subdued due to supply chain issues and apprehension about import availability. As the quarter progressed, market activity picked up slightly, but the underlying demand stayed moderate amid mixed sentiment regarding future price developments. Factors such as anticipated regulatory changes and evolving trade policies have kept buyers cautious. Consequently, the pricing trend in Q1 has been characterized by fluctuations, indicating the challenges market participants face in navigating a complex landscape of demand pressures and supply constraints.
For the Quarter Ending December 2024
North America
In Q4 2024, the Steel Plate market in North America experienced a steady but challenging environment, marked by fluctuating prices and cautious buyer sentiment. Prices for Steel Plates in the U.S. spot market ranged from stable to slightly declining, with a noticeable 0.8% decrease in early December reflecting an ongoing trend since mid-2022. The Manufacturing Index indicated marginal improvements, suggesting a potential easing of contraction in the manufacturing sector, though key metrics like raw steel production remained below previous year's averages.
Despite a slight recovery in automotive sales and robust construction spending, ongoing economic pressures, including high mortgage rates and reduced residential real estate activity, dampened broader demand. Builders are navigating challenges such as labour shortages and material costs, which have compounded over the year. Positive indicators in the automotive sector, with a reported 2.8% increase in total vehicle sales, contributed to steady demand, yet the construction segment grew sluggishly and struggled to gain momentum.
As Q4 concludes, the price for Steel Plate (20 mm) Ex Works Texas stands at USD 1,024/MT, a decrease from Q3 levels. Market participants face substantial challenges, including cautious purchasing behaviour, pricing pressure, and economic uncertainties, which will necessitate strategic adjustments as they look forward to 2025.
Europe
In Q4 2024, the Steel Plate market in Europe faced a landscape marked by stagnant demand coupled with modest pricing developments. Stability characterized prices in early December, reflecting underlying market pressures stemming from weak conditions among eurozone construction firms. The German Manufacturing Index showed a slight recovery from previous lows, although overall manufacturing activity continued to contract. In Southern Europe, despite some mills offering lower prices, trading activity remained muted, impacted by mismatched pricing expectations between buyers and sellers. Demand dynamics in the construction and automotive sectors revealed challenges, notably a decline in new housing developments and weaker car sales, despite an uptick in October registrations. The holiday season led to reduced purchasing activity, leaving market participants cautious and reluctant to commit to higher prices. Moreover, potential regulatory reforms have created uncertainty, further limiting buyer confidence. As Q4 concludes, the price for Steel Plate (16 mm) FD-Ruhr in Germany stands at USD 845/MT, indicating a modest increase compared to previous quarters. This slight uptick highlights the fragile nature of the market, where participants are contending with economic pressures, regulatory concerns, and a need for sustained recovery in demand to achieve long-term stability.
APAC
In Q4 2024, the Steel Plate market in the APAC region experienced a complex landscape characterized by initial price volatility followed by fluctuations driven by underlying economic conditions. Prices for Steel Plate in Japan showed a modest increase at the beginning of the quarter, reflecting cautious optimism amid a recovering retail market and improved inventory management. However, as the quarter progressed, demand from key sectors, particularly automotive, faced challenges due to increased competition and declining sales figures, leading to a decrease in prices by the end of the quarter. Manufacturing dynamics were influenced by a combination of rising input costs and geopolitical uncertainties, notably the blocked acquisition of a major steel competitor by the U.S. administration, which created ripples in international supply chains. As steel imports peaked, with significant supplies from China, Japan's government hinted at potential trade measures, heightening market vigilance. As Q4 concluded, the price for Mild Steel (JIS 3101-10 mm) Plate Ex Osaka in Japan stood at USD 739/MT, marking a decrease from earlier in the quarter. Market participants face ongoing challenges, including volatile demand, production cutbacks, and regulatory pressures, necessitating strategic adaptations to navigate the evolving landscape effectively.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American region experienced a significant downturn in Steel Plate pricing, with prices declining by 10% compared to the previous quarter. This decrease was influenced by various factors such as weakening demand, impending imports, and a competitive global market. The overall trend in the region reflected a negative sentiment, with prices showing a substantial drop of 34% from the same quarter last year.
The USA, being the most impacted, saw a notable price difference between the first and second half of the quarter, indicating a consistent downward trajectory. The pricing environment in the USA has been predominantly negative, with market conditions softening post-summer and limited transactions reported. The decrease in Steel Plate prices can be attributed to reduced demand from key sectors like automotive and construction, further exacerbating the downward pressure on prices.
Despite some stabilization efforts, the market struggled to find stability amidst challenging conditions, ultimately culminating in a quarter-ending price of USD 1075/MT for Steel Plate (20 mm) Ex Works Texas, highlighting the prevailing negative sentiment in the pricing landscape.
Asia-Pacific
In Q3 2024, the APAC region encountered a difficult period for Steel Plate pricing, characterized by a decline in prices due to various influencing factors. The market dynamics were primarily shaped by weakening demand, concerns about oversupply, and increased global competition. Reduced construction activities and sluggish demand across key sectors, combined with higher imports from competitive markets, contributed to the downward pressure on prices.
Furthermore, uncertainties regarding economic growth, trade disputes, and differing pricing strategies complicated the pricing landscape for Steel Plates in the region. Japan experienced the most significant price fluctuations, with prices noticeably lower compared to the same quarter last year.
The quarter-on-quarter price change was recorded at 1%, highlighting a continued downward trend. A comparison of prices between the first and second halves of the quarter indicated a steady decline, reflecting the ongoing negative sentiment present in the market. The quarter-ending price for Mild Steel (JIS 3101-10 mm) Plate Ex Osaka in Japan was recorded at USD 739/MT, underscoring the prevailing decreasing pricing trend.
Europe
In Q3 2024, the Steel Plate market in Europe experienced a substantial decline in prices, driven by several contributing factors. The downturn resulted from a combination of oversupply, weak demand, and intense competition, which led to significant price reductions. This quarter has posed challenges for the industry, as stagnant demand from critical sectors like automotive and construction has intensified pricing pressures.
Furthermore, difficulties in maintaining market share, incurring financial losses, and managing CO2 emissions allowances have added to the negative pricing environment. Germany faced the most significant price fluctuations, with a notable decrease compared to the same quarter last year and an additional decline of 7% from the previous quarter in 2024. A comparison of prices between the first and second halves of the quarter highlighted a substantial drop overall.
The quarter concluded with Steel Plate (16 mm) FD-Ruhr in Germany priced at USD 803/MT, reflecting the persistent downward trajectory in pricing. Overall, the pricing environment for Steel Plate in Europe during Q3 2024 has been overwhelmingly negative, characterized by continuous price decreases and challenging market conditions.
For the Quarter Ending June 2024
North America
In Q2 2024, the steel plate market in North America experienced a significant downturn, primarily driven by a confluence of factors that fostered a declining pricing environment. A pervasive imbalance between supply and demand emerged as a central theme, with increased production capacity juxtaposed against tepid demand from critical sectors such as infrastructure and automotive. This discrepancy was further exacerbated by an influx of lower-cost imports, which intensified competitive pressures and compelled domestic producers to slash prices to maintain market share.
Focusing on the USA, which witnessed the most pronounced price shifts, the overall trend was decidedly negative. The seasonality of demand typically observed in this period did not manifest robustly, leading to further market softness. Correlating with broader economic signals, the steel plate prices plummeted compared to the same quarter last year, underscoring a stark year-over-year decline. Additionally, prices dropped from the previous quarter in 2024, reflecting persistent market weaknesses and a lack of substantial recovery momentum.
During the quarter, prices experienced a decrease when comparing the first and second halves, reflecting ongoing bearish market sentiments. The quarter concluded with steel plate prices settling at USD 1174/MT Ex Works Texas, illustrating a consistent and significant reduction in value. This downward trajectory signifies a profoundly negative pricing environment, with market dynamics underscoring structural challenges and an overall lack of positive sentiment.
Asia-Pacific
The second quarter of 2024 has witnessed a consistent decline in Steel Plate prices across the APAC region, driven by a confluence of market factors. Key among these were subdued demand from infrastructure and automotive sectors, inventory surpluses, and a slowdown in economic activities. The overall sentiment in the steel market was predominantly negative, exacerbated by sluggish industrial output and mounting production costs. The market grappled with an oversupply problem, intensified by persistent operational capacities that exceeded demand levels. Furthermore, geopolitical tensions and trade uncertainties added layers of complexity, prompting cautious procurement behaviour among buyers and leading to price depreciation. Focusing exclusively on Japan, which experienced the most significant price changes, the quarter was marked by pronounced seasonality effects and a correlation between subdued economic activities and steel prices. There was a significant overall downward trend, with prices dropping compared to the same quarter last year. This decrease highlights a continuous weakness in market fundamentals. In 2024, prices continued to decline from the previous quarter, reflecting prevailing bearish market sentiment. Throughout the quarter, prices contracted between the first and second halves, indicating a consistent downward movement. The quarter concluded with Mild Steel (JIS 3101-10 mm) Plate Ex Osaka in Japan priced at USD 740/MT, reinforcing the persistent negative pricing environment throughout the period.
Europe
In Q2 2024, the European Steel Plate market experienced a notable downturn, driven by multiple factors that collectively pressured prices downward. The quarter was marked by a consistent decline in demand from key sectors such as construction and automotive, compounded by a significant influx of competitively priced steel imports from Asia. The resultant overcapacity in the market led European producers to revise their pricing strategies to remain viable. Seasonality also played a role, with summer holidays in northern Europe further dampening demand. Germany witnessed the most profound price adjustments in the region. The country's steel industry grappled with weakened domestic consumption and heightened inventory levels, exacerbated by intensified competition from imports. The overall trend in Germany reflected a persistent bearish sentiment, underpinned by sluggish trading activities and a cautious approach from distributors wary of market volatility. The price of Steel Plate (16 mm) in Germany decreased compared to the same quarter last year, reflecting broader economic challenges and sector-specific slowdowns. Comparing to the previous quarter in 2024, prices decreased, emphasizing a sustained downward trend. When examining the first and second halves of the quarter, there was an additional decline, signalling continued softening in the market. The quarter concluded with the price of Steel Plate (16 mm) FD-Ruhr in Germany at USD 865/MT, encapsulating the negative pricing environment. This consistent decrease highlights a challenging period for the steel industry, characterized by unfavourable market conditions and persistent downward pressure on prices.
