The most commonly heard spot market prices for US domestic plate have softened by $1.00 cwt. ($22/mt or $20/nt) on the top end since our last report two weeks ago, from $48.50-$49.50 cwt. ($1,069-$1,091/mt or $970-$990/nt), ex-Midwest mill, to an average of $48.50 cwt. ($1,069/mt or $970/nt), ex-Midwest mill.
Although the average lead times are still between six and eight weeks, one SteelOrbis source indicated that in some cases, material may be available in as soon as three weeks. This is consistent with what market sources were indicating in late December; the source added that customers are paying “slightly more than the average price” for material that can be shipped quickly.
“Plate is still doing a lot better than other flat rolled steel products,” a second source said. “Demand is still strong but there’s been some quiet wondering as to when prices would start to soften. Year-over-year pricing is still very healthy.”