Spot prices within the US domestic plate market may have held steady since our last report two weeks ago, in the approximate range of $44.00-$45.00 cwt. ($970-$994/mt or $880-$900/nt) ex-Midwest mill, but whether domestic mills will become flexible on that based on increasingly attractive south-of-the-border offerings has yet to be seen.
SteelOrbis sources have said that offers from Mexican plate producers, who had been offering in the approximate range of $37.00-$38.00 cwt. ($815-$838/mt or $740-$760/nt) may be offering deals below that range on sizeable orders. Brazilian mills are also still offering, according to traders, in the range of $38.00-$39.00 cwt. ($838-$869/mt or $760-$780/nt) DDP loaded truck US Gulf coast ports. “The market is strong, and domestic lead times are spanning out to the end of October,” said one Midwest service center. “Order activity is good, and we don’t see that changing anytime soon.”