The farther out the market gets from the attempted increase without prices moving, the less likely it is to take hold; as it stands, the mid-August $1.50 cwt. ($33/mt or $30/nt) price increase from SSAB and Nucor on carbon
plate have yet to gain traction, but sources close to SteelOrbis say acceptance hasn’t been ruled out. “It’s still too soon to tell,” according to one Midwest distribution center. “The increase hasn’t gone through but that’s not to say that it won’t.” Although a number of other steel products seem to be treading water,
plate continues to remain strong; lead times are spanning out through mid-November and order activity is stronger than it is for other
flats segments. For now, spot prices have held in the approximate range of $44.00-$45.00 cwt. ($970-$994/mt or $880-$900/nt) ex-Midwest mill.
Meanwhile, futures prices have also trended sideways since our last report two weeks ago. Mexican
plate mills, who are offering at approximately $37.00-$38.00 cwt. ($815-$838/mt or $740-$760/nt) DDP loaded truck delivered to
US border states, are still rumored to be offering deals for as much as $2.00-$3.00 cwt. ($44-$66/mt or $40-$60/nt) less on larger orders. Brazilian mills and Turkish mills are also hungry to gain
US market share and are still offering in the approximate range of $38.00-$39.00 cwt. ($838-$869/mt or $760-$780/nt) DDP loaded truck
US Gulf coast ports, although Turkish mills are said to be offering deals $1.00 cwt. ($11/mt or $10/nt) below that range to those interested in booking significant tonnages. What is of note, though, is the
US Department of Commerce’s announcement of the final results of its administrative review of the antidumping order on carbon steel
plate from
Korea. As it stands, a final dumping margin of 4.64 percent will be assessed to each of the six mills named in the suit.