Steel plate prices decline despite sheet hike

Feb 01, 2013 | 01:11 PM | Catherine Ngai

Tags  AK Steel, plate, sheet, steel, plate prices, sheet prices, steel prices, steel buyers traders

NEW YORK — The domestic steel plate market continued to soften this past week as a result of oversupply and lackluster demand, despite a recent uptick in steel sheet prices.

Domestic mills are said to be quoting around $37 per hundredweight ($740 per ton) for discrete carbon plate in the Midwest and Southeast, down from reported mid-January quotes of around $38 per cwt ($760 per ton). Actual sales prices are lower, however, with most market players reporting spot transactions this past week at around $36 per cwt ($720 per ton) f.o.b. Midwest mill, with some noting $35.50 ($710 per ton) was possible with minimal negotiation.

The weakening plate prices come at a time when a number of sheet mills are looking to raise prices, signaling mixed moves in the flat-rolled steel sector.....

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