US plate prices have continued to inch up since our last report a week ago. Lead times have lengthened from 6-7 weeks to 8 weeks or more, according to sources, who also note that today's average price range has firmed by $1.00 cwt. ($22/mt or $20/nt) in the past week. Today’s range, sources confirm, is trending at $39.00-$39.50 cwt. ($860-$871/mt or $780-$790/nt), FOB mill. Price increases are attributed to factors that are impacting the rest of the domestic steel market: lagging production rates, improved demand, and still-rising mill input costs.
Current prices are up substantially from the same reporting period last year, when US plate spot market prices were trending at approximately $33 cwt. ($728/mt or $660/nt), FOB mill.