Plate prices in the United States have continued to slide due to weak market fundamentals, but the recent stabilization of hot-rolled coil prices could support the free-falling plate market, sources said.
Fastmarkets' price assessment for steel cut-to-length plate carbon grade, fob mill US, fell to $35.50 per hundredweight ($710 per short ton) on Friday July 19, down by 2.7% from $36.50 per cwt a week previous.During the week to July 19, sources reported prices in a wide range of $33-37 per cwt ($660-740 per ton), reflecting a gap between prices for small versus large buyers.In general, plate prices remained soft despite the domestic market for hot-rolled coil - a leading product for steel pricing - stabilizing around $28 per cwt. Weakness on demand and supply was a major...