Imported plate market sinks deeper
Oct 25, 2012 | 12:52 PM
| Catherine Ngai
Tags
steel,
plate,
imports,
Houston,
Catherine Ngai
NEW YORK — The imported steel plate market has taken a plunge as a result of low domestic prices, uncertainty in the marketplace and southern depot centers with short lead times, sources told AMM.
"The plate market is getting weaker and weaker. It’s not good at all. I’ve been trying to sell, but it seems the market is so weak," said one steel trader. "It’s hard to understand, especially because the oil industry is doing so well. I think it’s just a lot of uncertainty in the marketplace."
Most transactions at the Port of Houston, which have been few and far between, were reported this week at between $700 and $730 per ton, although some Asian material was said to have been offered at around $680 per ton. This compares with early October prices of $730 to $760 per ton and current domestic prices of about $720 per ton f.o.b. Midwest mill.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here