Prices for carbon steel plate in the United States jumped after buyers realized that they will need to wait until later in the first quarter of 2021 for spot material.
Fastmarkets' weekly price assessment for steel cut-to-length plate carbon grade, fob mill US climbed to $36.50 per hundredweight ($730 per short ton) on Friday December 11 from $35 per cwt on December 4. The assessment has now gained 46% since descending to its year-to-date low of $25 per cwt in late August. Major US domestic plate producers are now largely committed through February 2021. Market participants reported that ArcelorMittal USA raised its offer price for February-shipped material to $40 per cwt ($800 per ton) fob mill during the week of December 7. After...