In the middle part of February,
US domestic A36 carbon steel
plate prices ticked down by approximately $1.50 cwt. ($33/mt or $30/nt); today the most commonly reported spot price transaction range has dropped by an additional $3.00 cwt. ($55/mt or $50/nt) bringing the new average range to $36-$38 cwt. ($794-$838/mt or $720-$760/nt), ex-Midwest mill. Sources close to SteelOrbis also report that Texas-based distribution centers are also selling in this approximate range, with deals available to those interested in booking larger orders. “I think we’re at a point where we are at or near the point where the market finally stops bleeding,” according to another source. And while some feel a recovery could start to come in the mid to late second quarter, others say they’re not willing to place any bets just yet.
In terms of offshore offer prices, Malaysian mills have jumped in the market looking to make some waves, with offer prices rumored to be fluttering in the $28-$29 cwt. ($617-$639/mt or $560-$580/nt), direct discharge in
US Gulf coast ports, but whether this offer will garner any takers has yet to be known.