US plate market said bouncing along bottom

Nov 02, 2012 | 07:15 AM | Chris Prentice

Tags  Plate market, steel plate, lower prices, depressed demand, plate imports, Chris Prentice

NEW YORK — U.S. plate prices slid in the past week as mills lowered their offers to attract buyers amid depressed demand.

"There is no market right now," a service center source told AMM. "The prices are so bad right now, nobody wants to commit to them long-term."

At least one major domestic plate mill has been pushing prices lower to match import levels and drum up business as U.S. mills battle low utilization rates and falling demand, market sources said.

The price of cut-to-length carbon-grade plate fell to $35 per hundredweight ($700 per ton) f.o.b. Midwest mill, although sources reported that there were lower numbers to be found.....

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