In the early part of April, US domestic plate prices were trending in the range of $45-$47 cwt. ($992-$1,036/mt or $900-$940/nt), ex-mill, but by last week, sources close to SteelOrbis had confirmed that lackluster order placement at the mill-level had begun to spur deals of $1.50 cwt. ($33/mt or $30/nt) below that range based on volume. The “official” average range remains the same, another source said, who went onto speculate that this range would revise downward in the near future.
Today, market conditions remain the same. As in previous weeks, sources are noting that healthy inventory levels have a growing number of service centers “buying and sell amongst themselves,” as opposed to placing orders with domestic producers. Those who are buying from mills have indicated that lead times are still trending between 5 and 7 weeks, although some buyers have indicated they’ve been able to get their orders “a bit faster.”
In terms of imports, the most commonly heard spot market price range for US import plate is being heard in the range of $41-$43 cwt. ($904-$948/mt or $820-$860/nt), ex-warehouse, which reflects no change week-over-week.