Two weeks ago,
US domestic
plate mills rolled out an “effective immediately” $2.00 cwt. ($44/mt or $40/nt) price increase, and today, SteelOrbis sources say that the full increase has been absorbed within the marketplace, bringing the new average spot price transaction range to $44.00-$45.00 cwt. ($970-$994/mt or $880-$900/nt) ex-Midwest mill. “
Plate seems to be rocking and rolling,” according to one Midwest distribution center, noting that lead times are already trending out to the middle part of October.
Considering the impact imports, this seems to make sense. Russian mills are no longer a factor since traders are reluctant to book tons out of that politically volatile country, Mexican
plate has become increasingly difficult to come by and Turkish mills haven’t offered in weeks, which leaves Brazilian mills, which are now 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.