US plate prices show signs of retreat

Thursday, 12 September 2019 20:33:35 (GMT+3)   |   San Diego

It’s been nearly a month since US domestic plate producers announced back-to-back $2.00 cwt. ($44/mt or $40/nt) price increases, yet neither increase helped move the market.

Last week, it was heard that US domestic plate prices were still being heard in the range of $34-$35 cwt. ($750-$772/mt $680-$700/nt) ex-mill. Today, sources note, prices are hovering closer to the $34 cwt. ($750/mt or $680/nt) ex-mill level, although one source reported being able to do about $1.00 cwt. ($22/mt or $20/nt) better depending on volume.

Market sources attribute current soft pricing to oversupply and not enough demand.

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