Two weeks ago, SteelOrbis reported that US domestic plate prices had fallen from $48.50 cwt. ($1,069/mt or $970/nt) to $47.00 cwt. ($1,036/mt or $940/nt), ex-Midwest mill, for larger-sized orders, although at the time, others were indicating that prices were seen in the range of $47-$48 cwt. ($1,036-$1,058/mt or $940-$960/nt), ex-Midwest mill.
Last week, we reported prices had softened to the range of $46-$47 cwt. ($1,014-$1,036/mt or $920-$940/nt), ex-Midwest mill; today, the average transaction price is $46 cwt. ($1,014/mt or $920/nt), ex-mill.
“No one is quoting $47 cwt. anymore, that’s done,” a source said, noting that order activity is unexciting. “There’s still a lot of inventory out there and at this point, the service centers are buying and selling amongst themselves.”
Looking offshore, offer prices are stable. As with last week, import offers in the US domestic market are being heard in the range of $42-$44 cwt. ($926-$970/mt or $840-$880/nt) ex-warehouse.