Last week, SteelOrbis reported that spot market prices for US domestic plate were hovering at approximately $32 cwt. ($705/mt or $640/nt), ex-mill, although sources had confirmed that deals were readily available based on volume. And while prices have remained stable, week-over-week, it's speculated that mills may reduce their pricing by $1.00 cwt. ($22/mt or $20/nt) in the near future, due to lagging order activity.
Softness within the US plate market, sources note, is largely tied to a lack fabrication jobs. "The only real activity that we have from fabricators is in the Houston area," a source commented. "All of the mills are coming at those orders with their gloves off- because everyone is fighting for the business."