Did US plate mill price increases move the market?

Thursday, 15 August 2019 23:36:27 (GMT+3)   |   San Diego
       

In late July, US domestic plate producers announced they would be raising spot market prices by $2.00 cwt. ($44/mt or $40/nt) price increase, effective with all new orders.  At the time of the increase, US domestic plate prices were trending at approximately $34 cwt. ($750/mt or $680/nt) ex-mill, although some buyers reported having no problems getting discounts of up to $2.00 cwt. ($44/mt or $40/nt) below that level.

And while the first increase seemed to have “shorted things up” and removed deep discounts from the table, as of late last week buyers indicated that prices were being heard at $34-$35 cwt. ($750-$772/mt $680-$700/nt), ex-mill.

Since that time, Nucor Plate Mill and SSAB Americas announced a second $2.00 cwt. ($44/mt or $40/nt) price increase. Although some speculate that the move was in line with an “announce two increases to force the first into acceptance,” spot prices have yet to move upward.

The market continues to be plagued by oversupply and short lead times, sources note, adding that there’s a bit of skepticism in terms of whether mills will succeed in getting prices to rise.

 


Similar articles

Flat steel prices in local Taiwanese market - week 17, 2024

25 Apr | Flats and Slab

Stocks of main finished steel products in China down 5.4% in mid-April

25 Apr | Steel News

US cut-length plate imports down 6.2 percent in February

23 Apr | Steel News

Japanese crude steel output up 2.9 percent in March from February

23 Apr | Steel News

Ex-China steel plate prices move sideways, local prices expected to rise

22 Apr | Flats and Slab

Romanian mill cuts local HRC prices sharply amid challenging trade

19 Apr | Flats and Slab

Consumption of steel plate in Mexico decreases 5.5 percent in February

18 Apr | Steel News

US plate prices mostly steady on adequate supply

18 Apr | Flats and Slab

Flat steel prices in local Taiwanese market - week 16, 2024

18 Apr | Flats and Slab

Japan’s HRP and HRS shipments up 8.9 percent in February from January

17 Apr | Steel News