The most commonly heard spot market prices for US domestic plate are still trending between $48.50 -$49.50 cwt. ($1,069-$1,091/mt or $970-$990/nt), ex-Midwest mill, although some sources close to SteelOrbis are questioning how long current price points will hold.
On one hand, mills’ most recent price increase is scheduled to take effect in January. On the other hand, sources point out that current price points “are up more than 50 percent from where they were a year ago. There comes a point when buyers are going to say enough is enough.”
As such, it’s believed that the state of the market will not become evident until the first weeks of 2019.
Year-end deals, which are becoming increasingly prevalent in other flat rolled steel product segments, have not been seen for plate, a Texas-based source said, adding that overall demand is still “good.”