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Steel Plate Price Trend and Forecast

UNSPC code: 30262007
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âźł Weekly Update
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Historical Data Since 2015
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Forecast for 2026
  • Commodity Pricing

steel plate Price Trends by Country

inIndia
cnChina
usUnited States
gbUnited Kingdom

Global steel plate Spot Market Prices, Trend Analysis and Forecast

Price-Watch’s most active coverage of Steel Plate price assessment:

  • SS400 10mm FOB Shanghai, China
  • IS2062 – 16mm Ex-Mumbai, India
  • SAE 1008 1.0mm Ex Alabama, USA
  • DC01 1.00mm FD Sheffield, United Kingdom

Steel Plate Price Trend Q3 2025

The Steel Plate market experienced an overall decline globally in Q3 2025 across most regions due to weak demand from industrial and construction sectors, competitive offers for imported products, and higher availability. There have been no large fluctuations in raw material costs during the quarter, which stabilized purchasing but didn’t provide an incentive for price increases.

The overhang of buyers remained risk averse in an uncertain trading environment and did not procure products above their normal inventories in a soft marked environment. Most regions saw a slight decline in Steel Plate price trend in September as demand has not clearly demonstrated an improvement. Overall, sentiment remained soft for many leading into Q4 with the supply-demand balance favoring buyers.

USA

Steel Plate Domestic Prices Del Alabama, USA, Grade- SAE 1008 1.0mm.

The Steel Plate price trend in the USA decreased by 1.55% in Q3 2025, primarily due to softer demand from key segments such as energy, construction, and manufacturing. Plants operated with high inventory levels, which reduced immediate procurement needs. Imports from lower cost producing nations also pressured domestic pricing throughout the quarter. Input cost relief from raw materials contributed to the gradual softening in prices.

End-users adopted conservative buying behavior amid uncertainty in project pipelines. Steel Plate price trend in the USA fell by 1.3% in September 2025, as procurement activity stayed slow, with buyers choosing to manage inventory exposure rather than commit to long-term supply.

UK

Steel Plate Domestic Prices FD Sheffield, UK, Grade- DC01 1.00mm.

The Steel Plate price trend in the UK fell by 1.83% in Q3 2025, as slow offtake from construction and heavy engineering projects weighed on market sentiment. Increased availability of competitively priced imports from other European producers further pressured domestic mills, who struggled with high operating expenses. Export opportunities remained limited due to weak overseas demand and currency fluctuations impacting competitiveness.

Steel Plate Price adjustments were necessary to stimulate sales in an otherwise static consumption environment. Buyer interest stayed low, with procurement focused only on immediate needs. Steel Plate price trend in the UK declined by 0.4% in September 2025, as the market continued to show minimal improvement and cautious stocking patterns persisted.

China

Steel Plate Export Prices FOB Shanghai, China, Grade- SS400 10mm.

The Steel Plate price trend in China showed a decline of 1.46% in Q3 2025, as demand continued to weaken from downstream sectors (construction, shipbuilding, and heavy machinery) from Q2. Mills kept to a steady production pace, leading to oversupply in the domestic market. There has been a slowdown in export orders, reflective of competition from other Asian producers and general weakness in world steel demand. Although raw material prices remained stable, the lack of solid consumption did not provide upward price momentum.

Traders and distributors proceeded with caution on buying, resulting in subdued overall activity. The Steel Plate prices sector in China declined from the previous month by 1.1% in September 2025, in reflection of a seasonal demand retreat and reduced procurement in preparation for a potential slow Q4.

India

Steel Plate Domestic Prices EX-Mumbai, India, Grade- IS2062 – 16mm.

According to Price-Watch, the Steel Plate price trend in India dropped by 2.32% in Q3 2025, reflecting the slowdown in infrastructure, engineering, and fabrication projects that reduced buying activity from key consumers. Imports from competitive Asian producers added further pricing pressure, compelling local mills to lower offers to maintain sales. Despite stable raw material costs, domestic demand remained muted, limiting any potential recovery.

Export demand also showed no signs of improvement, adding to the bearish tone in the market. Buyers largely avoided large-scale procurement, anticipating more price corrections ahead. Steel Plate price trend in India contracted by 0.4% in September 2025, as sentiment stayed cautious with only minimal restocking seen in the marketplace.

Steel Plate Price Trend Analysis: Q2 2025

According to PriceWatch, In Q2 2025, steel plate prices in China declined from $550 per metric tonne in Q1 to $539 per metric tonne in Q2, a 2.0% decrease. This downward trend was primarily due to oversupply and sluggish demand from core sectors such as shipbuilding, construction, and heavy machinery. Despite government efforts to stimulate infrastructure investment, the pace of new project launches remained slow, and inventory levels at mills and distributors stayed elevated.

Export opportunities were also limited by ongoing trade tensions and increased competition from other Asian suppliers. As a result, Chinese producers were compelled to offer discounts to stimulate sales, keeping prices under pressure throughout the quarter. 

In the United States, steel plate prices rose 4.52% in Q2. The US market was buoyed by strong demand from energy, construction, and defense sectors, all of which rely heavily on steel plate for critical applications. Domestic mills capitalized on limited import competition thanks to ongoing tariffs and trade restrictions to push through several rounds of price increases.

Additionally, higher input costs, especially for scrap and energy, were passed on to buyers. The continued rollout of infrastructure projects under federal programs further supported demand, making the US one of the strongest global steel plate markets this quarter. 

In the UK, steel plate prices picked up by 3.14% in Q2. The price increase was driven by modest recovery in construction activity, higher input costs, and tight supply conditions. UK mills benefited from improved sentiment in the broader European steel market and a gradual pick-up in public and private sector infrastructure spending.

Import volumes remained subdued due to ongoing trade barriers and regulatory changes, which helped domestic producers maintain pricing power. Despite some buyer caution amid economic uncertainty, the overall trend for steel plate in the UK was positive through Q2 2025. 

According to PriceWatch, steel plate prices in India in Q2 2025 increased by 2.53% from approximately $637 per metric tonne in Q1 to $652 per metric tonne, in Q2. The Indian market benefited from robust demand in infrastructure, construction, and capital goods sectors, fueled by ongoing government spending on roads, bridges, and industrial projects.

Additionally, stable input costs and limited import competition allowed domestic mills to implement price hikes. The rupee’s relative stability also contributed to steady export activity, further supporting the upward price trend in the Indian steel plate market. 

In Q1 2025, China’s steel plate prices declined from $555/MT in Q4 2024 to $550/MT FOB Shanghai pressured by weak domestic demand especially from the property sector and ongoing trade investigations that limited export opportunities. In contrast, the US market saw prices edge up, supported by strong demand from infrastructure and automotive sectors, low inventories, and government-backed projects, with Midwest buyers paying premiums due to shipping delays.

The UK also experienced price gains, driven by improved construction activity and restocking by distributors, as well as supply chain adjustments post-Brexit. Meanwhile, Germany’s steel plate prices remained stable, underpinned by balanced supply and steady demand from machinery and construction sectors, with cautious project-based buying and expectations of new energy transition projects in spring.

In India, prices dropped amid moderating demand growth, weaker residential construction, and increased competition from imports, despite ongoing government investment in infrastructure.  

 Q1 2025, prices softened further to $655/MT Ex-Mumbai, a marginal 0.7% decrease in quarter-on-quarter. The market faced slow demand recovery as infrastructure and industrial projects took longer to ramp up after the year-end. Buyers remained cautious, delaying large-volume purchases in anticipation of further price corrections.

Export demand was also muted, with Indian plate prices facing stiff competition globally. Mills continued to operate at reduced capacity utilization and prioritized maintaining relationships with key customers through flexible terms. Overall, the market outlook was stable but cautious, with hopes pinned on policy support and a pick-up in domestic project activity in the coming quarters. 

Steel Plate Price Trend Analysis: Q4 2024

Steel plate market in Q4 2024 picked up in China. Prices in India US and Uk remained largely unchanged on a quarterly basis. The overall market sentiment in Q4 2024 was dull, with some regions seeing modest recovery, particularly in China, while others continued to struggle with oversupply, weakening demand, and competitive pricing. 

In Q4 2024, Steel plate prices continued their downward trend, averaging $660/MT, a 1.3% decline from the previous quarter. Despite some post-monsoon recovery in construction, overall demand growth remained tepid. Increased competition from imports, especially from Asian producers, put additional pressure on domestic mills.

Export opportunities were limited, and mills focused on inventory management and cash flow, offering competitive pricing to attract buyers. The market remained subdued, with participants closely monitoring both domestic developments and international trends. 

Steel plate prices saw a decline across major economies compared to Q4 2023. Domestic prices in India dropped by 6%, in China by 9%, in the USA by 13%, and in the United Kingdom by 9%. The decline in India was largely attributed to the influx of inexpensive imports, which kept market sentiment bearish.

In the European Union, steel plate prices also edged lower, driven by a persistent market slump as buyers hesitated to make new bookings. High inventory levels and expectations of further price declines led to reduced buying activity, further pressuring prices. 

 

In Q3 2024, prices dropped to $669/MT, a significant 5.9% decline from the previous quarter. The onset of the monsoon season led to a slowdown in construction activity, and several infrastructure projects were temporarily delayed. Export orders softened as global buyers faced economic headwinds and fluctuating international prices.

Mills faced rising inventories and responded by offering discounts to stimulate sales. The market mood was cautious, with most buyers purchasing only to meet immediate needs and avoiding speculative buying. 

Steel plate prices saw fluctuations across key markets, influenced by seasonal factors, local supply-demand imbalances, and policy-driven dynamics. In China, steel plate prices continued to decline after the Dragon Boat Festival on June 10, primarily due to a pessimistic outlook for domestic demand.

Weakness in both consumption and investment sectors led to a sharper decline in steel end-use demand, outpacing production. Conversely prices in India picked by 2% in the quarter. USA saw a sharp 11% decline for the quarter followed by UK decline at 5% for the quarter under review.

In Q2 2024, Steel plate prices rose to $711/MT, marking a 2.6% quarter-on-quarter increase. This uptick was driven by a seasonal surge in construction and infrastructure projects as the weather improved, along with renewed government spending on public works. Export demand also picked up, particularly from Southeast Asia and the Middle East, where Indian steel remained competitively priced.

Mills benefited from tighter supply and firmer raw material costs, which supported higher offers. Market sentiment turned more optimistic, with buyers more willing to commit to forward purchases in anticipation of further price gains. 

The global steel plate market remained relatively stable, with prices in most regions staying close to those seen in the fourth quarter of 2023. However, some regions experienced minor price increases. In the India and USA, steel plate prices saw modest decline, while China and UK saw price rise. 

In UK, steel plate prices were supported by full order books, ongoing seasonal restocking, and a reduced interest in imports, which tightened local supply. The market sentiment in the region remained optimistic, with buyers more confident in securing material for upcoming construction and manufacturing projects.  

In Q1 2024, the average steel plate price in India was $693/MT Ex-Mumbai, The market entered the year with moderate demand from the infrastructure and engineering sectors, but sentiment was cautious due to high opening inventories and subdued export orders. Mills maintained production, but buyers were selective, focusing on immediate requirements rather than building stocks.

The construction sector showed some resilience, but overall, price movement was limited as both domestic and export markets awaited clearer signals of recovery. Mills offered competitive pricing to stimulate demand, but the market remained largely range-bound. 

Technical Specifications of Steel Plate Price Trends

Product Description

A steel plate is a flat, rectangular product made from steel through a process where the metal is heated above its recrystallization temperature and then passed through rollers to reduce its thickness and achieve the desired dimensions. Unlike coils or sheets, steel plates are typically thicker and are produced in larger sizes, making them suitable for heavy-duty applications. The steel plate production process enhances the material’s strength, durability, and surface finish, resulting in a versatile product used in industries such as construction, shipbuilding, automotive, and heavy machinery manufacturing. Steel plates are essential for structural components, storage tanks, and other applications requiring high strength and resistance to wear and corrosion.

Identifiers and Classification:

  • HS Code – 72082510


Steel Plate Grades Specific Price Assessment:

  • Steel Plate SS400 10mm Price Trend
  • Steel Plate IS2062 – 16mm Price Trend
  • Steel Plate SAE 1008 1.0mm Price Trend
  • Steel Plate DC01 1.00mm price Trend


Steel Plate Global Trade and Shipment Terms

  • Quotation Terms (Product & Country Specific): 200-300 MT and 15-18 MT
  • Packaging Type (Product & Country Specific): Container


Incoterms Referenced in Steel Plate Price Reporting

Shipping Term  Location  Definition 
FOB Shanghai  Shanghai, China  Steel Plate Export price from China 
Del Alabama  Alabama, USA  Domestically traded Steel Plate price in USA 
FD Sheffield  Sheffield, UK  Domestically traded Steel Plate price from UK 
EX-Mumbai  Mumbai, India  Domestically Traded Steel Plate in India 

*Quotation Terms refers to the quantity range specified for the Steel Plate being quoted or offered in a commercial transaction.

**Packaging Type refers to standard packaging size commonly used for Steel Plate packing, ease of handling, transportation, and storage in industrial and commercial applications.

Key Steel Plate Manufacturers

Manufacturer 
China Baowu Group   
ArcelorMittal   
Nippon Steel Corporation   
HBIS Group   
Shagang Group   
Ansteel Group   
POSCO Holdings   
Jianlong Group   

Steel Plate Industrial Applications

steel plate market share end use

Historically, several events have caused significant fluctuations in Steel Plate prices

  • Trade Policies and Tariffs: Tariffs and trade restrictions, such as the U.S.-China trade war, have led to price volatility in steel markets. 
  • The European Union’s anti-dumping measures on Chinese steel also caused price fluctuations as suppliers adjusted their pricing strategies in response to these regulations.
  • Global Supply Chain Disruption (2022): The war in Ukraine and other geopolitical tensions disrupted supply chains, leading to price volatility in various commodities, including steel plate. 
  • COVID-19 Pandemic (2019-2020): The global pandemic led to a significant decline in demand for STEEL PLATE-intensive industries, such as steelmaking and automotive manufacturing, causing prices to plummet. 
  • Global Economic Downturn (2019-2020): The global economic slowdown, particularly in sectors like steel and automotive, led to reduced demand for STEEL PLATE, resulting in lower prices. 

 

These events underscore the steel plate market’s vulnerability to global disruptions and highlight the need for continuous monitoring of supply-demand dynamics.  

 

Why PriceWatch?

PriceWatch is your trusted resource for tracking global steel plate price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the steel plate market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.

In addition, PriceWatch provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With PriceWatch, you gain a competitive edge in understanding all the elements that influence steel plate prices worldwide. Stay ahead of the curve with PriceWatch’s reliable, accurate, and timely steel plate market data.

Track PriceWatch's steel plate price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.

Data Collection and Sources​

  • Real-Time Market Data: PriceWatch aggregates real-time pricing data from a diverse range of sources, including global commodity exchanges, industry reports, and proprietary databases. This ensures that our assessments reflect the most current market conditions. 
  • On-the-Ground Intelligence: Our team gathers insights directly from key market participants, including producers, suppliers, traders, and end-users, across major Steel Plate production hubs. This ground-level intelligence is crucial for understanding localized market dynamics. 
  • Supply Chain Monitoring: We track the entire Steel Plate supply chain, from raw material availability to production and distribution channels. This includes monitoring feedstock prices, production capacities, and transportation logistics.

Event Tracking and Impact Analysis​

  • Geopolitical Tensions: PriceWatch continuously monitors global geopolitical developments, such as conflicts or trade disputes, which can significantly impact Steel Plate prices. Our analysis includes potential disruptions to supply chains and their immediate and long-term effects on pricing. 
  • Natural Disasters and Climate Events: We assess the impact of natural disasters, such as hurricanes or winter storms, on Steel Plate production facilities, particularly in vulnerable regions like the APAC coasts. These events are factored into our price forecasts and supply outlooks. 
  • Economic Shifts: PriceWatch evaluates macroeconomic trends, including global economic growth, inflation rates, and sector-specific demand (e.g., automotive, packaging, to predict shifts in Steel Plate demand and corresponding price movements.

Production Capacity and Supply Analysis

  • Current Production Monitoring: We maintain a comprehensive database of global Steel Plate production facilities, tracking their operational status, maintenance schedules, and output levels. This allows us to assess current supply availability accurately. 
  • Future Capacity Projections: Our research includes detailed forecasts of upcoming Steel Plate production capacities, factoring in new plant constructions, expansions, and technological advancements. This helps in predicting future supply trends and potential price stabilization.

Demand Forecasting

  • Sectoral Demand Analysis: PriceWatch provides an in-depth analysis of demand trends across key sectors, including packaging, automotive, and construction. We track year-on-year demand growth and project future consumption patterns based on economic indicators and industry developments. 
  • Global Demand Dynamics: Our methodology considers regional demand variations and how they influence global Steel Plate pricing. This includes understanding the impact of shifts in manufacturing bases, trade policies, and environmental regulations. 

Pricing Model Development

  • Dynamic Pricing Models: PriceWatch utilizes advanced econometric models to forecast Steel Plate prices, incorporating real-time data, historical trends, and projected market conditions. Our models are continuously refined to enhance accuracy and predictive power. 
  • Scenario Analysis: We conduct scenario-based assessments to evaluate potential future market conditions. This includes best-case, worst-case, and most-likely scenarios, helping our clients prepare for a range of market outcomes.

Reporting and Client Support

  • Comprehensive Reports: Our clients receive detailed reports that include current price assessments, future price forecasts, and in-depth analysis of market drivers. These reports are designed to be actionable, providing clear insights and recommendations. 
  • Ongoing Support: PriceWatch offers continuous updates and personalized support to our clients, ensuring they have the most up-to-date information to make informed decisions. Our experts are available to discuss specific market developments and provide tailored advice. 

This research methodology ensures that PriceWatch delivers the most accurate, timely, and actionable Steel Plate pricing assessments, helping our clients stay ahead of market trends and make informed business decisions. 

Steel Plate Market Price Trend provided by PriceWatch is a base price and excludes VAT/Taxes, discounts, or offers. The information herein is accurate to the best of our knowledge as of the date indicated and is provided solely for the convenience of our customers as a reference for steel plate. PriceWatch disclaims any warranties or representations regarding the accuracy of results derived from this information. It is the sole responsibility of the user to assess the suitability of the product for their specific application. This document does not constitute an endorsement to use the product in violation of any applicable patent rights.

Commodity prices are influenced by a complex interplay of factors, including:

 Production cost: Production costs directly influence commodity prices. When production expenses rise, such as through higher raw material or labor costs, commodity prices typically increase. Conversely, lower production cost leads to reduced prices of particular commodity.

Supply and Demand: The fundamental driver of commodity prices is the balance between supply and demand. When demand exceeds supply, prices tend to rise, and vice versa.  

Economic Growth: Global economic growth, particularly in emerging markets, can increase demand for commodities, driving prices higher.  

Geopolitical Events: Political instability, conflicts, and trade tensions can disrupt supply chains, affecting commodity prices.  

Natural Disasters: Weather events such as droughts, floods, and hurricanes can impact the production and availability of certain commodities.  

Speculation: Financial speculators can influence commodity prices through their trading activities.  

Government Policies: Government policies, such as tariffs, subsidies, and regulations, can impact the production, consumption, and trade of commodities.  

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