Spot prices within the
US domestic and import
plate market may have trucked along at sideways in the past two weeks, but as predicted, at least one
US domestic
plate mill has announced a price increase on the heels of back-to-back price firming for
US domestic hot rolled coil. SSAB announced a $2.00 cwt. ($44/mt or $40/nt) increase Wednesday, effective immediately, but how much of the increase, if any, will be absorbed has yet to be determined. Regardless, other
US plate producers are expected to soon follow suit, and until the market situation becomes clear, spot prices are still in the range of $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt) ex-Midwest mill
Meanwhile, trader sources say that Turkish and Russian
plate mills continue to offer at approximately $34.00-$35.00 cwt. ($750-$772/mt or $680-$700/nt), DDP loaded truck in
US Gulf ports, and $33.00-$34.00 cwt. ($728-$750/mt or $660-$680/nt), DDP loaded truck in
US Gulf ports, respectively, although few, if any, are looking to take on excess position tons.