US plate prices dip but mills win more bookings

Steel plate prices in the United States weakened after the segment was hit by persistently slow end markets, and some mills were willing to capitulate in deal-making to book tonnage in the final days of the second quarter.

Plate prices have likely bottomed, some market participants said, pointing to capacity adjustments stemming from layoffs at particular mills and outages at others. Although some mills accepted cheaper bookings, the resulting purchase orders allowed them to stretch lead times out a little.  Fastmarkets' weekly price assessment for steel cut-to-length plate carbon grade, fob mill US slid to $26 per hundredweight ($520 per short ton) on Monday July 6, down by 2.8% from $26.75 per cwt  on June 26. Fastmarkets assessed the price on Monday due to the Independence Day holiday in the United States, which was observed on July 3.  The cut-to-length plate price has now lost 18.8% thus far...

Published

July 07, 2020

18:43 GMT

New York