During the first week of January, SteelOrbis reported that the most commonly heard spot market price for US domestic plate was hovering at approximately $33 cwt. ($728/mt or $660/nt), ex-mill.
Today, sources have reported that while prices are down “by about a buck, with the average consumer now paying roughly $32 cwt. ($705/mt or $640/nt), ex-mill, that “guys who are looking to book large-scale tons aren’t having any issues getting their hands on a discount.”
“Things are getting aggressive right now,” a source said, adding that he knows that at least one plate mill recently bid a job at “roughly $2 cwt. ($44/mt or $40/nt) below the average spot market price. The market overall isn’t showing a lot of strength and we think it could be argued that today’s average price is high, based on market fundamentals, and that the market could be poised to come down a bit more.”