In the past seven days, SSAB, ArcelorMittal and Nucor have rolled out an average $2.00 cwt. ($44/mt or $40/nt) price increase for
US domestic
plate, effective immediately, although many feel it’s a bit too soon to tell how much, if any, of that increase will be absorbed. On the one hand, mills’ order books are trending out to October, which indicates relative strength within this particular market segment. And although prices for other
flats products, including hot rolled coil (HRC), cold rolled coil (CRC) and hot dipped galvanized (HDG) sheet are starting to topple,
plate can be easily described as “holding its own.” But still, SteelOrbis sources feel a $40/nt increase may be a bit ambitious at this point, and have said they’re taking a wait-and-see approach with the market. In terms of futures prices from
Turkey, those have held at approximately $34.00-$35.00 cwt. ($750-$772/mt or $680-$700/nt) DDP loaded truck in
US Gulf ports, while futures prices from Brazil are trending approximately $2.00 cwt. ($44/mt or $40/nt) higher.