Following a second round of plate price increases led by SSAB Americas Monday for $2.50 cwt. ($55/mt or $50/nt) effective with shipments on January 29, spot market buying activity has picked up. While the increase is in addition to a $1.50 cwt. ($33/mt or $30/nt) increase about three weeks ago, and buyers are once again placing substantial orders, US domestic plate spot prices have not yet moved and remain between $45.50-$46.50 cwt. ($1,003-$1,025/mt or $910-$930/nt) ex-Midwest mill--unchanged from two weeks ago. But with demand steady, plate mills will face little resistance collecting on the initial $1.50 cwt. increase by January, according to sources, and at least a part of the $2.50 cwt. increase as well.
The biggest hindrance to mills pushing prices up too high, or holding onto the increases for more than just the short term, will be imports. US buyers have placed sizeable import orders in the last couple weeks and industry insiders indicate that many traders bought tons on speculation and will likely be selling them on the spot market in the spring. Most attractive are import offers from Ukraine, Turkey and Korea, which all range from $38.00-$39.00 cwt. ($838-$860/mt or $760-$780/nt) DDP loaded truck in US Gulf ports. Russian offers are unchanged in the last two weeks between $40.00-$41.00 cwt. ($882-$904/mt or $800-$820/nt) DDP loaded truck in US Gulf ports and Brazilian offers, currently at approximately $42.00 cwt. ($926/mt or $840/nt) DDP loaded truck in US Gulf ports, are also available, offering specialty sizes and product ranges not readily available at US domestic mills.