Steel plate prices in the United States dropped further during the week to Friday November 8, but the market might have found a bottom after more domestic mills joined efforts to raise pricing, some market participants said.
Fastmarkets' price assessment for steel cut-to-length plate carbon grade, fob mill USwas at $30 per hundredweight ($600 per short ton) on Friday November 8, down by 1.6% from $30.50 per cwt a week earlier and a two-year low.But sources said the market is close to bottom. "Most likely we are not going to see any more decreases," one East Coast distributor source said. Sources pointed to the spread between hot-rolled coil and plate prices as support of this...