US domestic
plate prices have officially ticked down by $2.50 cwt. ($55/mt or $50/nt) since their high point in late August, with some citing belief that additional downticks may be seen before the market reaches bottom.
At the start of 2014,
US domestic
plate prices were trending in the range of $38.50-$39.50 (849-$870/mt or $770-$790/nt), ex-Midwest mill, but in the middle part of the year mills started to tell customers that long-lead times and robust order books were cause for price firming; which caused a jump in transaction prices. And although buyers quickly found themselves paying more out of pocket, many questioned the viability of the story. In September, however, the fib started to unravel, and prices have been on a downward trend ever since.
Although some wonder if prices could correct all the way back ranges seen during the first week of the year, others say it’s still too soon to call.
Today, however; the most commonly reported spot price transaction range has fallen off by about $0.50 cwt. ($11/mt or $10/nt) since our last report a week ago, bringing the new average range to $41.50-$42.50 cwt. ($915-$937/mt or $930-$950/nt), ex-Midwest mill, while Turkish offer prices have held at to $37.00-$38.00 cwt. ($816-$838/mt or $740-$760/nt) DDP loaded truck
US Gulf coast ports, unchanged in the past two weeks.