Prices for carbon steel plate in the United States retreated to an almost-four-year low after market participants said evidence has mounted that there simply will not be much demand for plate in 2020.
Producers thought prices had already bottomed this summer, but at least two US mills discounted prices again in August. Demand remains weak in end-use sectors ranging from the oil and gas industry to manufacturers of rail cars and other heavy equipment.Reeling US plate prices continue on a path of convergence with domestic hot-rolled coil prices. In summer 2019, plate was more...