The mass-reset of
US domestic steel prices has finally spilled over to the domestic
plate market, as the most commonly reported spot price transaction range for A36 carbon steel
plate has ticked down approximately $1.50 cwt. ($33/mt or $30/nt) since our last report a week ago; the new average range is now trending between $39.00-$40.00 cwt. ($860-$882/mt or $780-$800/nt) ex-Midwest mill. Sources close to SteelOrbis, however, continue to report distributor offers “well below” the above range.
“In the past you’d see markets change weekly or monthly but lately things seem to be changing on an hourly basis,” according to one Midwest-based source. Buyers are trending cautious and are only buying what they need, when they need it out of concern that the market has not yet reached bottom.
In terms of offshore offer prices, those have trended mostly sideways since our last report two weeks ago, with Turkish offers trending at $37.00-$38.00 cwt. ($816-$838/mt or $740-$760/nt) DDP loaded truck
US Gulf coast ports. Continued rumors about South African offers for May/ June arrival have also persisted, with prices reportedly available underneath the Turkish range.