US plate prices follow market downtrend

Steel plate prices in the United States dropped for the first time since mid-July, after holding at $35.50 per hundredweight ($710 per short ton) for more than one month, following a negative performance trend across the domestic steel market.

Fastmarkets’ price assessment for steel cut-to-length plate carbon grade, fob mill US, declined to $34.50 per cwt ($690 per ton) on Friday September 6, down by 2.8% from $35.50 per cwt one week earlier. Sufficient supply, weak demand and trade uncertainty have driven bearish sentiment in the US steel industry, according to sources. Lead times at plate mills have remained shorter than four weeks and buying activity has been minimal, supporting expectations that plate prices could fall further. Several key downstream sectors also have signaled...

Published

Muyao Shen

September 09, 2019

23:30 GMT

New York