Plate prices in the United States have fallen to their lowest point in more than a year on weak demand, increased imports and shorter mill lead times.
Fastmarkets AMM's price assessment for domestic cut-to-length plate dropped to $45.50 per hundredweight ($910 per short ton) on Monday April 22, off by 1.1% from $46 per cwt previously and down by 7.1% from $49 per cwt at the beginning of the year.Plate prices were last at $45.50 per cwt in late March 2018.Lead times at domestic plate producers averaged four to six weeks, according to market participants and mill lead time sheets. But certain producers can have steel ready in as little as two to three weeks, sources said.Market chatterWith lead times short and demand soft, there is little to keep prices from falling further - especially with service centers largely out of the spot market...