Spot prices within the
US domestic
plate market may have ticked down by roughly $2.50 cwt. ($55/mt or $50/nt) in the middle of December, but the market seems to have leveled amidst the year-end holiday season. The last two weeks of the year are historically slow, according to sources, and the winding down is more related to people being out of the office than it is to true-market conditions. Many still cite a belief that additional price softening could be on the horizon once people return to work, and while some think current spot market prices could soften another $1.50-$3.00 cwt. ($33-$66/mt or $30-$60/nt) before the market reaches bottom, the situation is not expected to become clearer in the upcoming weeks.
For now, the most commonly reported
US ex-Midwest mill spot price transaction range remains unchanged in the past two weeks, still at $41.50-$42.50 cwt. ($915-$937/mt or $930-$950/nt), ex-Midwest mill, while Turkish offer prices continue to hold in the approximate range $37.00-$38.00 cwt. ($816-$838/mt or $740-$760/nt) DDP loaded truck
US Gulf coast ports.