Steel Plate Price Trend

Steel Plate Price Trend and Forecast

Track the latest insights on steel plate price trend and forecast with detailed analysis of regional fluctuations and market dynamics across Europe, North America, Middle East & Africa, Asia Pacific, and Latin America.

Steel Plate Prices Q4 2024

During the last quarter of 2024, the steel plate prices in the United States reached 1126 USD/Ton in December. The market experienced price volatility due to inconsistent sector performance and cautious buyer mood. Although car sales increased, high mortgage rates and a lack of workers caused broader construction activity to lag. Although manufacturing appeared to be slightly improving, raw steel production was still below historical levels. As Q4 came to an end, pricing pressures and economic uncertainty forced market participants to hone their tactics for negotiating a more competitive environment as 2025 approached.

During the last quarter of 2024, steel plate pricing in Germany saw fluctuations. The quarter ended with steel plate priced at 929 USD/Ton in December. The market showed signs of a slight rebound, with slight price increases at the close of the quarter. Demand remained low, especially in the automotive and construction industries, despite modest gains in the manufacturing index. Buyer confidence was impacted by regulatory uncertainty, and momentum was constrained by cautious trading and a decline in housing activity.

In the last quarter of 2024, steel plate prices in Japan remained 813 USD/Ton in December. Early optimism was evident in the Q4 2024 steel plate market in Japan, which saw modest price rise bolstered by better inventory control. However, demand was stifled by dwindling car sales and growing input prices, which resulted in price reductions later in the quarter. The market became even more complex due to geopolitical tensions and rising Chinese imports, which sparked talks about trade policies. Participants encountered competitive and regulatory constraints at the conclusion of the quarter, which required strategic reactions in order to adjust successfully.

Steel Plate Prices Q3 2024

During the third quarter of 2024, the steel plate prices in the United States reached 1046 USD/MT in September. Due to competition, rising imports, and weak demand, steel plate prices in the US significantly decreased. Prices dropped gradually, however more sharply in the Q2 of the quarter. Reduced activity in important industries like construction and automobiles exacerbated negative pressures. The price environment, which reflected weak market dynamics and little transactions, remained negative despite stabilizing attempts. All of these elements combined to make the U.S. steel plate market have a difficult quarter.

The price trend for steel plate in Japan for Q3 2024, reached 750 USD/MT in September. Steel plate prices in Japan had a difficult third quarter of 2024, declining steadily as a result of increased imports, low demand, and trade uncertainty. Negative market sentiment was exacerbated by a decline in building activity and a slowdown in industrial output. Throughout the quarter, prices steadily decreased, with year-over-year declines indicating continued difficulties. The pricing environment for steel plate products remained adverse due to Japan's dependence on competitive international markets and shifting economic conditions, which further hindered recovery efforts.

The price trend for steel plate in Germany for Q3 2024, reached 816 USD/MT in September. Germany's steel plate market saw significant price drops as a result of overstock, intense rivalry, and sluggish demand. The steel-consuming industries of building and automobiles made minimal contributions to market stabilization. The difficulties were exacerbated by strict emissions rules and financial strains. Germany's price environment was muted and under constant downward pressure during the period, indicating challenges in preserving market balance. Quarter-over-quarter declines were a reflection of continuous market issues.

Steel Plate Prices Q2 2024

During the second quarter of 2024, the steel plate prices in the United States reached 1185 USD/MT in June. The decline was driven due to weak demand and increased competition from low-cost imports. The expected seasonal demand failed to strengthen, exacerbating the negative trend. The market remained under pressure, indicating broader economic challenges and a bearish pricing landscape.

Japan's steel plate market in Q2 2024 experienced significant price reductions, spurred by weak consumption across key industries and a surplus in inventories. Economic slowdowns and seasonality further contributed to the declining trend. The quarter ended with steel plate priced at 747 USD/MT in June. The market remained bearish during the quarter, reflecting continued negative sentiment and ongoing challenges.

Furthermore, Germany’s steel plate market in Q2 2024 faced consistent price declines due to the weakening of local demand and increased competition from importing countries. The market struggled with overcapacity and sluggish economic activity concluding at 873 USD/MT in June. Seasonal factors also contributed to the downturn, leading to a persistently bearish pricing landscape throughout the quarter.

Steel Plate Prices Q1 2024

In the USA, the steel plate prices in early 2024 faced downward pressure due to subdued domestic consumption and heightened imports. Economic ambiguities coupled with substantial bargained contracts led to the price decline, reflecting the overall negative sentiment in the market. The pricing landscape remained challenging during the quarter, concluding at 1298 USD/MT in March.

Japan's market witnessed significant price drops in Q1 FY24. Weak consumption across the automotive and construction sectors, combined with a surplus in domestic warehouses, led to declining prices. Additionally, extreme winter conditions further reduced demand with market prices reaching 759 USD/MT in March.

Moreover, Germany saw consistent price declines in this quarter, reaching 919 USD/MT in March. The downturn was driven by weak demand in the construction industry, poor economic performance, and seasonal winter impacts. Political changes and fluctuating global scrap rates added to the market’s unpredictability and negative sentiment.

Steel Plate Prices Q4 2023

The steel plate prices (20mm) in the United States for Q4 2023 reached 1514 USD/MT in December. The market experienced low prices despite appreciation in dollar value. Logistical challenges and potential labor strikes impacted the market significantly. Prices stabilized due to the removal of countervailing duties on imports and moderate demand influenced by inflation concerns. Towards the end of the quarter, there was a slight recovery in prices supported by global economic stimuli but overall remained tempered by increased production and inventory levels.

The price trend for steel plate [mild steel (JIS 3101-10 mm) plate] in Japan for Q4 2023 settled at 854 USD/MT in December. The market initially saw price increases driven by strong construction and transportation industry demand and shifts in procurement by Russian buyers. As the quarter progressed, however, increased local manufacturing led to stockpiling and a downturn in demand, exacerbated by trade disruptions and geopolitical tensions affecting consumer confidence and end use sectors. Prices adjusted downward with the market facing oversupply issues.

In Germany, the steel plate (16mm) prices for Q4 2023 reached 950 USD/MT in December. The market remained stable throughout the quarter, marked by a temporary increase because of restocking. However, demand soon waned, influenced by a slowdown in the steel industry in Europe and upcoming holidays. Despite consistent pricing and high inventory levels, the market took a cautious approach due to potential mill closures, global market skepticism, and a subdued outlook in key sectors like automotive and construction.

Regional Coverage

The report provides a detailed analysis of the steel plate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the steel plate price trend.

Global Steel Plate Price Trend

The report offers a holistic view of the global steel plate pricing trends in the form of steel plate price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into steel plate historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into steel plate price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed steel plate demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Steel Plate Price Trend

Q4 2024:

Europe's steel plate industry struggled with sluggish demand and slight price changes in Q4 2024. Despite persistent issues in the construction industry and a lackluster market environment, prices showed stability in early December. Discounts were provided by mills in southern Europe, but buyer hesitancy remained. Despite sluggish demand from the automobile and construction sectors, a little increase in Germany's manufacturing index indicated a slow stabilization. Challenges were exacerbated by fewer house developments and weak auto sales. Buyer trust was further undermined by regulatory concerns. Due to the region's precarious supply and demand balance, the market ended the quarter with modest price increases.

Q3 2024:

In Q3 2024, the market was struggling, with prices falling as a result of fierce competition, oversupply, and poor demand. Price pressure was exacerbated by the lack of activity in sectors that are important demand generators, such as construction and the automobile industry. Besides, with significant price declines from quarter to quarter and significant price reductions from the prior year, Germany was especially impacted. With prices reflecting further difficulties and stagnation in an already competitive and oversupplied environment, the market ended the quarter on a downward trajectory.

Q2 2024:

The market in Europe faced a substantial decline in Q2 FY24 due to reduced consumption across major industries such as automotive and construction, coupled with a surge of affordable importing from Asia. This oversupply led producers in Europe to lower their rates. Germany saw the steepest price reductions, driven by diminished domestic demand and mounting competition. Seasonal factors, such as summer holidays, also contributed to weaker demand. Overall, the market sentiment was negative, with prices consistently falling throughout the quarter, mirroring broader economic difficulties and specific sector slowdowns.

Q1 2024:

Europe’s market prices fell sharply in March 2024. Economic challenges, along with low demand, were the primary factors that led to this decline. In Germany, the market saw the most significant price reductions, influenced by the struggling housebuilding industry and sluggish economic performance. Seasonal factors, particularly winter conditions, also dampened demand, further driving down prices. Political shifts and varying global scrap rates added to the market’s instability. Overall, the European market experienced consistent price declines during this quarter.

Q4 2023:

The market was marked by volatility in Q4 2023, driven by several disruptive factors. The ongoing conflict in Ukraine severely impacted supply chains, while the harvest season brought an influx of sunflower seeds, initially pushing prices down. Despite this, sunflower oil prices saw a notable rise in November due to easing input cost inflation and positive market sentiments. By December, prices adjusted downward, mirroring global declines in other vegetable oils like palm and soybean. This was further influenced by the substitution effect of these oils in various applications, leading to a fluctuating price landscape across the region.

Detailed price information for steel plate can also be provided for an extensive list of European countries.

North America Steel Plate Price Trend

Q4 2024:

The North America steel plate industry faced a difficult environment in Q4 2024, characterized by shifting price patterns and cautious consumer mood. As a result of the manufacturing and construction industries' muted activity, prices stayed steady to slightly decreased. Despite a little rebound in the automotive industry, which witnessed an increase in car sales and a decline in new home building restrained overall demand. Builders were under additional strain due to ongoing issues including shortages of labor and high material costs. Market participants were forced to reevaluate their plans for navigating an unpredictable and competitive market climate in 2025.

Q3 2024:

Reduced demand, rising imports, and intense international competition were the main causes of the sharp drop in steel plate prices in North America during the third quarter of 2024. The market showed a decreasing trend, with prices falling sharply from the exact period in last year as well as from the preceding quarter. Due to consistently weak market circumstances, the USA was most affected, showing a sharp contrast between the first and second parts of the quarter. The region's steel plate industry was left in a persistently negative price environment as a result of decreased activity in important industries including construction and automotive.

Q2 2024:

The North American market encountered substantial challenges in Q2 2024, spurred by an oversupply situation coupled with low consumption across industries like automotive and infrastructure. The disparity between manufacturing capacity and market needs was also aggravated due to a surge in cheaper imports, which pressured local producers into lowering costs to stay competitive. The USA, in particular, saw notable price declines as the seasonal requirement failed to materialize strongly, mirroring overall economic weaknesses. This persistent downward trend reflected deep-rooted market challenges and a general pessimistic pricing landscape throughout the quarter.

Q1 2024:

During the Q1 FY24, the steel plate market faced considerable challenges in North America, marked by a steady decline in prices. This trend was driven by reduced demand across key sectors like automotive and construction, linked to economic ambiguities and diminished purchasing activities among consumers. In line with this, trade route interruptions in areas like the Red Sea and Suez Canal exacerbated the situation. The USA market was further impacted by restrained domestic demand and increased imports, leading to price reductions.

Q4 2023:

During the final quarter of 2023, North America saw a complex trajectory in sunflower oil prices. Prices began declining in early October, coinciding with the peak harvest season in Ukraine, a key exporter. This increased supply led to reduced prices for importers. Despite this, the price of sunflower oil experienced a moderate rebound mid-quarter due to a rise in downstream demand. Throughout the quarter, logistical issues such as a global container shortage and port congestion heightened transport costs, elevating the export costs of sunflower oil. These factors, along with fluctuating global economic conditions and concerns over potential supply shortages, fostered a volatile market, culminating in higher consumer prices by the quarter’s end.

Specific steel plate historical data within the United States and Canada can also be provided.

Middle East and Africa Steel Plate Price Trend

The report explores the steel plate pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Steel Plate Price Trend

Q4 2024:

Due to a variety of economic factors and price swings, the Asia Pacific steel plate market saw volatile conditions in Q4 2024. Early in the quarter, Japan saw modest price growth as a result of better inventories and cautious confidence in the retail markets. However, as car sales declined and competition grew, demand declined, which eventually resulted in price cuts. Due to geopolitical unpredictabilities, such as the disruption of the global steel trade, manufacturing costs increased. China's imports increased so much that Japan thought about enacting regulations. As the quarter came to a quiet end, the market showed resilience in the face of these difficulties, with players adjusting to demands and regulatory obstacles.

Q3 2024:

Steel plate prices in the Asia-Pacific area saw downward pressure in Q3 2024 as a result of increased imports, decreased demand, and rising worldwide competition. The difficult market conditions were exacerbated by weak building activity and decreased demand in several important industries. Concerns about oversupply and trade uncertainty made pricing much more difficult. Significant swings were seen in Japan, where prices steadily dropped during the quarter, indicating unfavorable sentiment in the area. The sector's challenges were highlighted by a notable price decline from the prior year, with oversupply and slow growth limiting the likelihood of a comeback.

Q2 2024:

The APAC steel plate market faced a continuous price decline in Q2 2024, influenced by weak requirements from the automotive and infrastructure industry, stock overhangs, and subdued economic growth. The region struggled with persistent oversupply. Trade uncertainties and geopolitical unease further complicated market dynamics, leading to cautious buying activities and price reductions. Japan also observed notable price reductions, driven by seasonal demand and restrained fiscal performance, marking a clear downward trajectory. The market remained bearish, with prices constantly dropping during the quarter, highlighting underlying market weaknesses.

Q1 2024:

The APAC region encountered a difficult Q1 in 2024, with significant price reductions due to factors like weak consumption across the automotive and construction industries. This resulted in a surplus of supply, creating a bearish market. Trade issues, including the Panama Canal's lower water levels and attacks in the Red Sea, led to increased freight costs and extended lead times, further pressuring prices. Japan, in particular, saw significant price drops due to diminished demand and excess supply, exacerbated by harsh winter conditions.

Q4 2023:

The market in the Asia Pacific region was notably influenced by various factors through Q4 2023. The period started with a global surplus from a bountiful Ukrainian harvest, leading to lowered initial prices. However, by the quarter's conclusion, prices escalated due to logistical challenges and heightened port congestion, which delayed sunflower oil shipments and created temporary shortages. The region also saw an increase in demand, particularly as bullish market sentiments took hold, further boosting prices. These dynamics were accompanied by a continual flow of new market quotes, which contributed to stabilizing prices towards the end of December.

This steel plate price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Steel Plate Price Trend

Latin America's steel plate market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in steel plate prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, economic fluctuations and currency devaluation are critical factors that need to be considered when analyzing steel plate pricing trends in this region.

This comprehensive review can be extended to include specific countries within the region.

Steel Plate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Steel Plate Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” offers an in-depth analysis of steel plate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of steel plate at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of steel plate price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing steel plate price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Steel Plate Industry Analysis

The global steel plate industry size reached US$ 67.6 Billion in 2023. By 2032​, IMARC Group expects the market to reach US$ 84.8 Billion, at a projected CAGR of 2.60% during 2023-2032​.

• Steel plates are essential in construction and infrastructure projects, including bridges, buildings, and highways. Consequently, as government agencies are investing in infrastructure to stimulate economic growth, the demand for steel plates is increasing. This is particularly notable in emerging economies where urbanization and development projects are accelerating. In fiscal 2023, the WORLD BANK provided $12.8 Billion to support infrastructure spending in developing countries. Moreover, according to the bank, developing countries still need to spend about 4.5% of GDP annually to fund basic improvements in energy, transport, digital, and other sectors.
• The automotive sector heavily relies on steel plates for manufacturing vehicle frames and body parts. Hence, the expanding automotive industry driven by increasing vehicle production and demand for electric vehicles is escalating the need for high-quality steel plates. According to OICA, the United States produced 1,74,5171 Million passenger cars and 8 866 384 Million commercial vehicles in 2023.
• Steel plates are also utilized in the construction of energy infrastructure, including power plants, pipelines, and storage tanks. The increasing shifts toward renewable energy sources and the modernization of traditional energy infrastructure is escalating the demand for steel plates in this sector. According to a report published by IMARC Group, the global renewable energy market size reached US$ 892.7 Billion in 2023. Looking forward, it is expected to reach US$ 1,733.0 Billion by 2032, exhibiting a growth rate (CAGR) of 7.65% during 2024-2032.
• Steel plates are also crucial in the defense industry for manufacturing armored vehicles, military vehicles, and protective equipment. At present, with ongoing geopolitical tensions and the need to modernize defense capabilities, the demand for high-quality steel plates for military applications remains robust. In July 2023, the UNITED NATIONS Secretary-General Antonio Guterres told the world’s nations that the post-Cold War period is over, and the world is moving toward a new multipolar era already marked by the highest level of geopolitical tensions and major power competition in decades.

Steel Plate News

The report covers the latest developments, updates, and trends impacting the global steel plate industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the steel plate price trend.

Latest developments in the steel plate industry:

• In October 2023, Tata Steel held a groundbreaking ceremony for its upcoming 7,50,000 Tonnes per annum scrap-based electric arc furnace (EAF) steel plant in Ludhiana.
• In September 2023, Tata Steel and the UK Government agreed on a proposal for the largest investment in the UK Steel Industry for the future of sustainable steelmaking in the UK.

Product Description

Steel plates are flat pieces of steel that are widely used in construction, manufacturing, and other industrial settings. They are usually rectangular in shape and designed to meet precise specifications for strength, durability, and dimensions. Depending on the required thickness and qualities, hot or cold rolling is used to create steel plates. These plates come in a range of thicknesses and grades to accommodate a variety of uses. Moreover, their strength, hardness, and other mechanical attributes can be affected by heat treatment, alloying elements, and carbon content, among other things. Nowadays, numerous industries, including construction, automotive, shipbuilding, energy, manufacturing, and defense, use steel plates due to their versatility and widespread use.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of steel plate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting steel plate price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The steel plate price charts ensure our clients remain at the forefront of the industry.