Inventories weighing on W. Coast plate market
Nov 26, 2012 | 04:28 PM
| Frank Haflich
LOS ANGELES A glut of carbon steel plate inventory could continue to drag the West Coast market down through year-end.
"Theres still just too much plate hanging around here, and unfortunately too much of that is lying in my warehouse," one distributor said, estimating it could take at least a month to work off the surplus.
Not including the latest announced round of $50-per-ton hikes, the quoted base price for warehouse grades and sizes of discrete plate from domestic mills east of the Rockies to medium-sized service centers is estimated at $830 to $850 per ton ($41.50 to $42.50 per hundredweight) delivered. However, for many distributors, buying has slowed to a trickle in a resale market that they say continues....
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