Spot market prices for US domestic plate have softened yet again, sources note, after a brief period of stability.
Previously, prices were trending in the range of $27-$29 cwt. ($595-$639/mt or $540-$580/mt), ex-mill, although mills were attempting to quote orders at closer to $30 cwt. ($661/mt or $600/nt).
This week, prices have softened, with some sources saying that ex-mill pricing is being quoted at closer to $26.50-$27.00 cwt. ($584-$595/mt or $530-$540/nt), ex-mill. “I know guys who are getting plate for $27.25 cwt. ($601/mt or $545/nt), delivered,” a source said. “The market is terrible; prices are soft and activity is abysmal. That’s all anyone can say about the state of the market right now.”