For the Quarter Ending June 2025
North America
• The Steel Plate Price Index in the USA increased by 3.2% quarter-over-quarter in Q2 2025. The rise was driven by supply tightening following reduced mill output and a modest recovery in end-user demand from construction and machinery segments.
• The Steel Plate Production Cost Trend remained stable. Raw material inputs such as slabs and scrap did not show significant volatility, and domestic production operated at conservative levels.
• The Steel Plate Demand Outlook strengthened slightly, with non-residential project pipelines and OEM restocking contributing to higher intake.
• Imports remained limited due to longer lead times and fewer competitive offers from Asia and Latin America.
Why did the price of Steel Plate change in July 2025 in North America?
• The Steel Plate Spot Price in July 2025 is estimated to have remained steady, with transactional activity subdued but mills holding firm offers.
• Buyer interest was measured, as construction activity persisted but OEM procurement stayed cautious.
• The Steel Plate Price Forecast suggests range-bound pricing into Q3 unless imports ease or OEM orders rebound sharply.
• The Steel Plate Demand Outlook is moderately positive, supported by project backlogs and durable goods manufacturing.
APAC
• The Steel Plate Price Index in Japan decreased by 6.5% quarter-over-quarter in Q2 2025. The decline reflected weak demand from shipbuilding and construction, alongside inventory overhangs and weaker exports due to trade tensions.
• The Steel Plate Production Cost Trend declined slightly due to reduced energy input prices and slab oversupply in the region.
• The Steel Plate Demand Outlook weakened as domestic buyers delayed purchases and mills operated below capacity.
• Export competitiveness was pressured by strong regional competition and trade policy headwinds from the U.S. and ASEAN.
Why did the price of Steel Plate change in July 2025 in Japan?
• The Steel Plate Spot Price in July 2025 likely softened marginally as inventories remained high and mill capacity stayed underutilized.
• Market participants were hesitant to restock, expecting further softening or potential fiscal policy support.
• The Steel Plate Price Forecast indicates continued downside unless demand recovers in infrastructure or marine sectors.
• The Steel Plate Demand Outlook remains cautious amid persistent supply overhang and uncertain external demand.
Europe
• The Steel Plate Price Index in Germany decreased by 2.7% quarter-over-quarter in Q2 2025. The fall was led by weak demand from machinery and construction, along with lower-priced slab inflows from re-rollers.
• The Steel Plate Production Cost Trend was stable, supported by controlled energy costs and steady input prices for slab and semi-finished goods.
• The Steel Plate Demand Outlook remained soft. Buyers exercised restraint amid high inventories and unclear project timelines.
• Competitive pressure from imports and lackluster economic signals across the eurozone suppressed spot activity.
Why did the price of Steel Plate change in July 2025 in Germany?
• The Steel Plate Spot Price in July 2025 likely remained under pressure, with buyers resisting increases and mills opting for rollover strategies.
• Construction and engineering demand showed no significant pickup, while end-user confidence stayed low.
• The Steel Plate Price Forecast remains neutral to slightly bearish without a strong rebound in project execution.
• The Steel Plate Demand Outlook is limited, with most downstream buyers waiting for clearer market direction.
For the Quarter Ending March 2025
North America
• The Steel Plate Price Index in North American market inclined during Q1 2025, with prices settling at USD 1279/MT Ex Works Texas (USA) for 20 mm Steel Plate, reflecting an overall increase in comparison to Q4 2024.
• Why did Steel Plate price change in April 2025?
Steel Plate prices increased in early April 2025 due to extended mill lead times, a limited supply environment, and strong pricing actions by leading producers like Nucor.
• The Steel Plate Spot Price saw mid-quarter momentum from scrap price volatility and Nucor’s pricing hikes (~$280 per short ton), pushing prices upward.
• Initial January weakness (–1.5%) stemmed from weak domestic demand and heightened import competition, but February’s rebound was driven by strong downstream pull.
• The Steel Plate Production Cost Trend remained high due to rising material and labor costs, especially in the construction sector.
• By late March, market activity was mixed, influenced by seasonal buying, economic uncertainty, and fluctuating demand outlook.
• The Steel Plate Demand Outlook remains cautious but stable, with infrastructure projects and machinery manufacturing offering moderate support.
• The Steel Plate Price Forecast suggests continued fluctuation in Q2 2025 as market participants evaluate the macroeconomic outlook and trade policy developments.
Europe
• The Steel Plate Price Index in Europe (Germany) ended Q1 2025 at USD 861/MT FD-Ruhr for 16 mm plates, reflecting a broadly stable trend with undercurrents of volatility.
• Why did Steel Plate price change in April 2025?
Steel Plate prices marginally increased in early April 2025 due to reduced import volumes, ongoing regulatory scrutiny, and firming production costs.
• Early Q1 was marked by hesitant demand and unsuccessful producer price hikes post-holidays, particularly within the construction and automotive sectors.
• February saw minor sentiment improvement amid restocking expectations, though gains were modest.
• March brought cautious optimism but no significant rebound, as EU import policy ambiguity and rising input costs weighed on producer margins.
• The Steel Plate Production Cost Trend climbed steadily, underpinned by energy inflation and stringent EU environmental compliance costs.
• The Steel Plate Demand Outlook is neutral, with slow recovery anticipated in automotive and moderate activity in construction sectors.
• The Steel Plate Price Forecast indicates short-term stability with mild upside risk depending on trade policy outcomes and restocking cycles.
Asia-Pacific (APAC)
• The Steel Plate Price Index in APAC (Japan) decreased in Q1 2025, closing at USD 696/MT Ex Osaka for Mild Steel Plate (JIS 3101–10 mm), lower than Q4 2024 levels.
• Why did Steel Plate price change in April 2025?
Steel Plate prices decreased in April 2025, due to continued weak demand from construction and automotive sectors, combined with cautious buying and regulatory uncertainty.
• January began with steady pricing, but low downstream activity from holidays and external market uncertainty triggered a mild decline.
• Mid-quarter stabilization efforts were hampered by limited buyer confidence and inconsistent import availability, especially from China and South Korea.
• March brought slight improvement in trading activity, but fundamental demand remained underwhelming, particularly in infrastructure and shipbuilding.
• The Steel Plate Production Cost Trend softened as some manufacturers scaled back operations to align with demand.
• The Steel Plate Demand Outlook remains subdued in the short term, with cautious optimism linked to regional trade normalization and government stimulus expectations.
• The Steel Plate Price Forecast suggests modest recovery in late Q2 if regional stimulus plans materialize and import supply stabilizes.
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.
Frequently Asked Questions (FAQs):
1. What is the current price trend of Steel Plate in North America?
The Steel Plate Price Index in the USA rose by 3.2% quarter-over-quarter in Q2 2025. Price gains were driven by reduced mill output and moderate demand recovery from construction and machinery sectors. July 2025 prices held steady as mills maintained firm offers despite subdued transactional activity.
2. Why did Steel Plate prices decline in Japan during Q2 2025?
Japan’s Steel Plate Price Index declined by 6.5% in Q2 2025 due to soft domestic demand, inventory buildup, and reduced exports amid regional trade tensions. Production costs also dipped slightly with lower energy prices and oversupplied slabs.
3. Why did the Steel Plate Spot Price remain under pressure in Germany in July 2025?
In Germany, July 2025 Steel Plate prices likely stayed weak as buyers resisted price hikes and mills maintained rollover pricing. The market was weighed down by poor construction and machinery demand, high inventories, and eurozone-wide economic softness.
4. What is the demand outlook for Steel Plate in Q3 2025 across key regions?
In North America, the outlook is moderately positive, supported by project backlogs and steady durable goods production. In APAC, sentiment remains cautious amid high inventories and soft marine sector demand. Europe continues to face weak buyer sentiment and delayed project execution.
