Plate prices poised to rise, sentiment mixed
Aug 22, 2014 | 07:05 PM
| Michael Cowden
CHICAGO Plate prices appear poised to move upward after three major domestic producers recently announced increases of $30 to $40 per ton ($1.50 to $2 per hundredweight).
AMMs price assessment for plate held steady at $43 per cwt ($860 per ton). However, that flat trend is a result mainly of the fact that increases did not affect many customers over the past week.
If the current increases were absorbed in full by the market, prices for carbon steel plate would be expected to rise to $44.50 per cwt ($890 per ton). However, it remained unclear Aug. 22 exactly where prices would settle.
Sentiment about the direction of pricingwhich had been mixed earlier this past weekappeared to firm with Chicago-based ArcelorMittal USA LLCs and Lisle, Ill.-based SSAB Americas announcements (amm.com, Aug. 22). The moves are expected to bolster Charlotte, N.C.-based Nucor Corp.s hand in increasing tags (amm.com, Aug. 18).....
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