West Coast supply glut sinks steel plate prices

Oct 22, 2012 | 05:04 PM | Frank Haflich

Tags  steel plate, West Coast, South Korea, Frank Haflich

LOS ANGELES — Prices for carbon steel plate continue to fall on the West Coast as market conditions for the product go from "first to worst" over the course of 2012.

An increasing portion of domestic trade plate is being reported at a base of $800 per ton ($40 per hundredweight) delivered, although larger orders are going for even less, according to market sources. Meanwhile, recent offers from South Korea for arrival early next year were reported at about $720 per ton ($36 per cwt).

This contrasts with a high point of about $1,040 to $1,060 per ton ($52 to $53 per cwt) on the West Coast early this year, when aggressive import pricing largely failed to dampen a strong consumption outlook (amm.com, Jan. 19), making plate among the strongest of the major carbon steel products. But since then, the market has deteriorated into what some people describe as one of the toughest environments.....