Steel Products Prices North America
June 3, 2022
Hot Rolled vs Plate Steel Prices: Plate Premium Rises to 46%
Written by Brett Linton
Sheet steel prices continue to decline from the March/April bump, while plate prices are easing at a slower rate, according to SMU’s price indices published last Tuesday. Plate prices typically carry a premium over hot rolled prices because plate is a value-added product and requires more time on the mill.
Hot rolled coil averaged $1,255 per ton ($62.75 per cwt) last week and has declined each of the past six weeks. Recall our index had reached a 14-month low of $1,000 per ton in the first week of March, following a record-high $1,955 per ton in September 2021. Our latest plate index averaged $1,830 per ton last week, declining each of the past three weeks. In that time, plate prices have declined $110 per ton from the $1,940 high seen on May 10. Plate prices have been much more stable compared to sheet prices, with our plate index remaining within $80 per ton of $1,880 for over eight months.
