The price for steel plate in the United States has slipped to the lowest point in eight months due to weak service center demand and fears that Section 232 tariffs could be removed against Canada and Mexico, market participants said.
Fastmarkets AMM assessed cut-to-length plate at $47 per hundredweight ($940 per ton) on Friday March 1, down by 1.1% from $47.50 per cwt previously and off 5.1% from $49.50 per cwt late last year.The plate price was last at $47 per cwt in June 2018, Fastmarkets AMM pricing archives show.Lead times are in a wide range of four to eight weeks, sources said.Higher prices take a hikeWhile some mills remain busy with project work in the line pipe sector in particular, others have more open order books and are willing to offer discounts if necessary, sources said."Service centers are probably the weakest link" among mill customers, one Great Lakes service center source said. Service centers are not only...