Although US domestic plate prices had been hovering in the range of $28-$31 cwt. ($617-$683/mt or $560-$620/nt), ex-mill, for the past several weeks, sources close to SteelOrbis have said that today’s pricing is lower.
“We know of one mill that’s quoting $28 cwt., delivered into Houston. Delivered! That’s after $3.00 cwt. ($66/mt or $60/nt) freight,” a source said. “I never in my live imagined I’d see plate at the same price point as hot rolled coil.”
Although that particular mill is a bit of an outlier, another source added, “the bulk of mills are quoting at $28 cwt., although you can probably do a little better if you show up with some tons in hand.”
Overall activity within the market is sluggish, at best.
“We have people calling for quotes, but it feels like a lot of tire-kicking at this point. We got a call from a guy, today, for a quote, but he called and asked us for the same quote six months ago,” a source noted. “It feels like a lot of people just want to gauge where the market is.”