For the past several weeks, SteelOrbis has reported that the average spot market price range for US domestic plate was trending in the range of $26.50-$27.00 cwt. ($584-$595/mt or $530-$540/nt), ex-mill. This week, however, some SteelOrbis sources have said the price range has widened, to a new average of $26.50-$28.00 cwt. ($584-$617/mt or $530-$560/nt), ex-mill.
“The market is still a mess so I don’t think anyone should look too far into the higher pricing,” a source said. “The bottom line is that prices need to come up because current pricing isn’t sustainable. Demand is still terrible and with everything that’s going on with COVID, we don’t expect to see any sort of meaningful recovery until 2021.”