Steel plate prices in the United States held steady for the sixth consecutive week after distributors determined that they mostly have sufficient stock and do not worry about availability if demand increases.
Two rounds of price-increase announcements from plate mills still have not resulted in across-the-board higher prices, according to market participants. The hike announcements have enticed a few more orders and may have stabilized prices at existing levels, however. "Plate mills are trying to dig in, but I don't think anybody is buying at the new asking prices," a Midwestern distributor said. Fastmarkets' weekly price assessment for steel cut-to-length plate carbon grade, fob mill US was unchanged at $27 per hundredweight ($540 per short ton) on Friday June 19. The price has lost 30% over the past year and is mired at its...