US plate prices trend soft

Thursday, 04 April 2019 18:59:02 (GMT+3)   |   San Diego
       

Activity within the US domestic plate market has been “slower than the market would like” since our last report two weeks ago, and that lackluster order placement has placed downward pricing pressure on the market.

Sources close to SteelOrbis have said that a growing number of deals have been taking place up to $1.00 cwt. ($22/mt or $20/nt) below last week’s transaction range, and as such, spot prices have widened on the bottom end, from $46-$47 cwt. ($1,014-$1,036/mt or $920-$940/nt), ex-mill to $45-$47 cwt. ($992-$1,036/mt or $900-$940/nt), ex-mill.

Lead times are trending between 5 and 7 weeks, sources say, although one service center manager indicated that in some cases, orders can be delivered in as soon as 4 weeks. Some market players have indicated a strong belief that US plate prices have been “artificially high,” stating they believe “there’s room for the market to come down during the summer months.”

 


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