Midwest steel plate prices soften slightly

May 13, 2013 | 02:54 PM | Catherine Ngai

Tags  plate, steel prices, plate prices, scrap prices, Catherine Ngai

NEW YORK — Steel plate prices have retreated from their 2013 highs in recent days as a combination of lower scrap prices and difficult end-market business has caused some downward pressure, sources said.

Prices had firmed slightly in recent months as mills successfully held on to part of the $60-per-ton increases implemented earlier this year (amm.com, April 5), but that strength has started to dissipate, sources told AMM.

Spot cut-to-length carbon steel plate sales were reported this past week at an average price of $36.50 per cwt ($730 per ton) f.o.b. Midwest mill, down from the $37-per-cwt ($740-per-ton) range reported since early April, with some buyers and sellers reporting larger-tonnage deals as low as $36 per cwt ($720 per ton). Prices in the South were reported even lower, with most spot sales there taking place in the $35.50- to $36-per-cwt ($710- to $720-per-ton) range. ....

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