Plate prices in the United States have slipped for the second week in a row despite prevailing market sentiment that demand has been stable.
American Metal Market's price assessment for cut-to-length plate has dipped to $46.25 per hundredweight ($925 per ton), down 0.5% from $46.50 per cwt ($930 per ton) previously.Despite falling 1.6% from a year-to-date peak of $47 per cwt ($940 per ton) reached in early April, plate prices remain up 36% from $34 per cwt ($680 per ton) at the beginning of the year, according to American Metal Market's Price Tracker.Lead times are approximately seven to nine weeks, market participants said."As far as plate is concerned, there is not much change from last week," one mill source said, noting that the recent lackluster showing might result from generally flat US scrap prices and weaker slab tags in some regions.Another possibility for...