US domestic plate increase continues to hold

The US domestic plate market has been relatively stable since our last report, as the previously announced $2.00 cwt. ($44/mt or $40/nt) price increase continues to hold.  Ultimately, the spot price transaction range of $44.00-$45.00 cwt.  ($970-$994/mt or $880-$900/nt) ex-Midwest mill remains unchanged.  Order activity and inquiries are relatively good, according to SteelOrbis sources, and there’s relative optimism that this trend will continue to hold throughout the summer.  US domestic producers say lead times are spanning out toward the end of October, which could also help keep spot prices from faltering.

Meanwhile, all continues to be quite on the import front, as futures offers from Turkish mills are still trending on the quiet side.   Mexican plate tonnages are few and far between, and traders say they’re still reluctant to book anything from Russia due to political volatility in that area of the world.  The last offer from Brazilian mills, though, came in at approximately $38.00-$39.00 cwt. ($838-$869/mt or $760-$780/nt) DDP loaded truck US Gulf coast ports.