Plate prices rise on lead times, thin inventory
Jan 31, 2014 | 04:45 PM
| Catherine Ngai
NEW YORK Steel plate prices saw an uptick this past week due to extended lead times and discipline shown by major steelmakers on higher pricing, market participants told AMM.
Discrete plate prices transacted at $39.50 per hundredweight ($790 per ton) this past week, up from $38.50 per cwt ($770 per ton) previously, with some sources citing buys ranging closer to $40 to $40.50 per cwt ($800 to $810 per ton).
Lisle, Ill.-based SSAB Americas, Chicago-based ArcelorMittal USA LLC and Charlotte, N.C.-based Nucor Corp. recently increased transaction prices on plate products by a minimum of $30 per ton ($1.50 per cwt) (amm.com, Jan. 24). While none of the steelmakers indicated a reason for the increase, sources said that strong order books have pushed lead times for most major mills into the March-to-April time frame. Buy- and sell-side sources anticipated an uptick in pricing in the near....
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