US: Is the wider spread between HRC and plate the “new normal”?
The wide spread between prices for hot-rolled coil and plate has been blamed for the fast-falling US plate market in the past few weeks, according to sources who spoke to Fastmarkets.
For the month through Thursday July 11, Fastmarkets’ steel hot-rolled coil index, fob mill US
, averaged at $538.20 per short ton ($593.26 per tonne); the assessment for steel cut-to-length plate carbon grade, fob mill US
, averaged at $750 per short ton ($826.73 per tonne) in the same comparison.
Given those averages, the current price spread stands at $211.80 per short ton ($233.47 per tonne) - higher than the $100-140 per short ton (roughly $110-155 per tonne) range that was considered “normal” in the past.
While some sources argued that plate should fall further and move more in line...