US plate prices spike since mid-November

Thursday, 03 December 2020 21:45:59 (GMT+3)   |   San Diego
       

SteelOrbis has learned that US domestic plate prices have continued climb since our last report to week ago. In the aftermath of mills’ late-November price increase announcement, plate prices have risen from approximately $35 cwt. ($772/mt or $700/nt), ex-mill, to approximately $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/nt), ex-mill. The rise in plate prices mirrors similar increases seen within other flat rolled steel products, as still-soft mill production rates are underpacing market demand. Also of note is the belief from sources that should domestic scrap prices settle up substantially this month, as expected, plate prices could climb further.


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