US steel plate price hits $39 per hundredweight on higher demand, supply pressures

The US domestic plate price has jumped to its highest point since 2014 due to higher demand and supply pressures.

American Metal Market’s latest assessment for domestic cut-to-length plate jumped by $1.50 per hundredweight week on week to hit $39 per cwt ($780 per ton). The plate price was last at that level in December 2014. After a slow slide to $23 per cwt in December 2015, the plate price rebounded and dropped again in 2016 before logging a less-volatile 2017. Now, long-rumored Section 232 import curbs, potential US line pipe projects, declining imports and a steady energy rig count are all helping to support prices, market participants said On the other hand, flat scrap pricing for February - plus the rapid pace of price hikes lately...

Published

Nat Rudarakanchana

February 05, 2018

18:43 GMT

New York