US plate price flat; market braces for demand hit

March 24, 2020 / www.metalbulletin.com / Article Link

Steel plate prices in the United States held steady this past week while market participants attempted to measure the impact of the Covid-19 pandemic on production and demand.

Most buyers said they had paused spot orders as last week progressed. With stay-home mandates proliferating in an increasing number of states - some accompanied by a suspension of construction projects - market participants said much of plate demand on a spot basis will likely be pushed out until after the novel coronavirus (2019-nCoV) emergency subsides. Simultaneously, plate providers who supply the oil and gas sector are worried about the consequences of West Texas Intermediate crude oil trading below $23 per...

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