US plate prices steady; restocking need wanes

Prices for steel plate in the United States were flat after producers continued to experience slow bookings in the new year.

Attaining the full extent of announced price hikes has posed a challenge for mills after some buyers stocked up in the early stages of an upswing that started in December 2019. A post-New Year's bounce has been elusive so far, with distributors reporting that material has been plentiful both at the mills and from other service centers.

"The spark is not there yet," one mill source said. "It has been stagnant for more than two weeks, despite scrap going up the past two or three...

Published

Dom Yanchunas

January 21, 2020

21:22 GMT

New York