US domestic plate prices

Thursday, 22 August 2019 00:37:23 (GMT+3)   |   San Diego
       

SteelOrbis has learned that spot market prices for US domestic plate continue to hold in the range of $34-$35 cwt. ($750-$772/mt $680-$700/nt), ex-mill, despite mills' having announced two, $2.00 cwt. ($44/mt or $40/nt) price increases.

According to a source, "pricing is down substantially in the past few months, the price increases haven't taken hold, prices are still low and there's no sight as to when service centers will rebound and start to order inventory again. Service centers did not diminish their inventory substantially last month, so there's no need for them to go out and replenish stock. That, and considering that in some cases, lead times are as short as 2.5 weeks, they can get their plate fast and at any price they want to pay for it. This, added in with the layoff announcement that US Steel put out earlier in the week, gives credence to the fact that everyone is still nervous about the steel industry. It has not remained strong with what the government thought it was doing to help."


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