Prices for steel plate in the United States weakened for the first time since early May after mills grew slightly more flexible on post-hike pricing in an effort to book enough orders to find destinations for the current pace of rollings.
But participants emphasized that pricing stability remains the prevailing theme in the plate market. They credit the plate mills' two rounds of price-increase announcements in the spring - even though those hike never broadly resulted in higher prices. Fastmarkets' weekly price assessment for steel cut-to-length plate carbon grade, fob mill US fell to $26.75 per hundredweight ($535 per short ton) on Friday June 26 from $27 per cwt on Friday June 19. The price had been steady at $27 per cwt for the previous six weeks.Lead times are still reported at around four weeks or less. Plate...