Plate prices slip on low demand, oversupply
Sep 20, 2012 | 04:13 PM
| Chris Prentice
NEW YORK U.S. steel plate prices have resumed their downward trend as minimal spot ordering exacerbates a sense of oversupply in the market and scrap input costs fall, sources told AMM.
"The announced increasenone of that stuck," one service center source said. "With scrap sliding, prices stayed the same or came down in some cases."
Domestic plate mills last month announced plans to raise prices on plate products by $50 per ton (amm.com, Aug. 16). The efforts initially stopped the markets slide, but minimal spot buying and Septembers declining scrap market have pushed prices back over the edge.....
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