US plate prices flat; next catalyst elusive

Steel plate prices in the United States held steady after declines in the previous two weeks, with buyers still satisfied that they do not need to commit to any major inventory replenishment.

Demand for plate has suffered after the Covid-19 pandemic and other factors dealt a blow to end-market sectors in the second quarter. The advent of the third quarter has failed to bring succor so far, with ferrous scrap prices weakening in July and summer vacations imminent. 

"The mills are trying to hold the line [but] pricing is on a downward track," a Southern distributor said. "Scrap has...

Published

July 13, 2020

23:19 GMT

New York