Spot market prices for US domestic plate are still holding in the range of $48-$49 cwt. ($1,058-$1,080/mt or $960-$980/nt), ex-Midwest mill; West coast plate has also remained lateral, at $49.00 cwt. ($1,080/mt or $980/nt), ex-mill.
The trend continues to buck the trend seen within other flat rolled steel products, which have been enduring slow, steady softening in the past several weeks.
Some believe the sideways pricing trend for US domestic plate may continue to hold in the upcoming weeks due to early reports relating to the US domestic scrap market, which have shown that prices for prime grades and shredded scrap have regained some of the losses that the market endured in September.
A second component to the steady trend seen for plate prices relates to market activity, which is also still strong, a source said, adding this is also indicative that plate prices will not be susceptible to price corrections that are taking place in the domestic HRC market.