In early February, SteelOrbis reported that US domestic plate 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, while other sources indicated prices in a range of $47-$48 cwt. ($1,036-$1,058/mt or $940-$960/nt), ex-Midwest mill.
Today, the average price for US domestic plate is holding in that same range, with the bulk of transactions taking place in the middle. Service center demand has started to slow, a Texas-based source said, adding that this trend has increased mills’ willingness to negotiate price. Whether that trend will put further downward pressure on pricing, and lead to another correction, is not yet known.
Looking offshore, import plate in the US market is still being sold at approximately $42.00 cwt. ($926/mt or $840/nt), ex-warehouse, which reflects no change in the past two weeks.