In the early part of May US domestic plate mills sent out rapid-fire price increase announcements, yet sources close to SteelOrbis say that none of the $1.50 cwt. ($27/mt or $25/nt) increase has been accepted.
The average transaction price for US domestic, 96” wide A36 carbon steel plate is thus unchanged since our last report two weeks ago, at approximately $32.00-$33.00 cwt. ($706-$728/mt or $640-$660/nt) ex-Midwest mill; other sources close to SteelOrbis have also confirmed that some distribution centers continue to sell off higher-priced inventory at fire-sale price points. “The market is still a mess,” according to one Texas-based source. “Spot prices don’t seem to be falling any further but the market is still way off from where it was when the downtrend started.”
Futures prices are also holding steady, with South African mills still offering in the approximate range of $25.00-$26.00 cwt. ($551-$573/mt or $500-$520/nt), DDP loaded truck US Gulf coast ports; rumors that Brazilian plate producers are open to matching that price continue to run rampant.