US domestic plate prices have increased since last month. The strength in the plate market simply ignores the gradual price softening on cold rolled coil (CRC), hot rolled coil (HRC) and hot dipped galvanized (HDG) product in recent weeks, but sources expect that to shift soon.
Offers stood at $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt) in mid-March. This is up $1.50 cwt. ($33/mt or $30/nt) from mid-February offers. Yet prices could correct back down by that same $1.50 cwt. and possibly even more in the next few weeks, according to sources. Currently, lead time on orders is booked out until the first week of June. The soonest buyers can negotiate getting product is the week of May 5, according to one source.
US import offers from Turkey have also risen since last month. Offers stood in the general range of $36.50 to $37.50 cwt. ($805-$827/mt or $730-$750/nt) DDP loaded truck in US Gulf ports.