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.....

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