Plate spot prices in the US domestic market have sustained in the last couple weeks with steady demand and minimal import competition. The general spot price range continues to be the high end of $36.00-$37.00 cwt. ($794-$816/mt or $720-$740/nt) ex-Midwest mill as lead times are still trending at about five weeks. Even scrap prices coming down in April did not derail plate mills' steady momentum. Demand is decent as well, but far from superb, so larger orders can garner decent discounts from mills. Mills are not readily offering deals, according to SteelOrbis sources, but given falling scrap prices, plate prices slightly below the above range are not unheard of; scrap prices are still on the decline, and already settling about $20/lt lower for May than in April, when prices also fell $20/lt.
Imports, meanwhile, are not having much negative impact on the US domestic plate market. While the domestic market is showing strength, it has not been enough to convince US buyers to book significant import tons as current offer prices aren't too competitive. Turkish offer prices are down about $1.00 cwt. ($22/mt or $20/nt) since mid-April to $33.00-$34.00 cwt. ($728-$750/mt or $660-$680/nt) DDP loaded truck in US Gulf ports. If, however, the futures prices drop again and US domestic mills are able to stave off any major price declines in their own market, interest in futures could quickly improve.