Despite a $2.00 cwt. ($44/mt or $40/nt) plate price increase from Nucor and SSAB Americas two weeks ago, US domestic plate spot prices are still neutral. While sources tell SteelOrbis that some customers have had to pay a portion of the increase, the average to large-size buyer has not yet felt any effects of the increase, and spot prices are still $46.50-$48.50 cwt. ($1,025-$1,069/mt or $930-$970/nt) ex-Midwest mil; however, as expected, discounts under the range that had been prevalent throughout March are dissipating. Lead times are out to May/June at most--if not all--plate mills, giving mills little incentive to cut prices.
Although plate spots are decreasing, they aren't likely to increase the full $2.00 cwt. either. According to some sources, mills want to prevent the spread between import and US prices from widening too much in order to keep import interest at bay. However, both Turkish and Korean prices are still well below US prices, and traders report a steady flow of import bookings. Turkish prices are stable from two weeks ago in the range of $40.00-$41.00 cwt. ($882-$904/mt or $800-$820/nt) DDP loaded truck in US Gulf ports. Korean offer prices are also unchanged and can be found between $41.00-$42.00 cwt. ($904-$926/mt or $820-$849/nt) DDP loaded truck in US Gulf ports.