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    January 24, 2019

    Discrete Plate Buyers Nervous; SMU Momentum Changed

    Written by John Packard

    The plate markets have been acting quite differently than the hot rolled markets for some time. As hot rolled prices have eroded, plate prices have stabilized, with discrete plate trading around $1,000 per ton, delivered to the mill’s customer. We are seeing the dynamics of the plate markets changing, and SMU wants to be careful to explain that we are talking about the service center inventories or “speculative” plate markets, not the contract or specialty plate products, which continue to be have firm prices and extended lead times.

    Discrete plate, or the plate generally sold into the spot markets, has seen lead times drop back by as much as three weeks, according to one of the mill sources we spoke with this afternoon. On average, our survey respondents reported plate lead times (all products, includes specialty) as pulling back by more than one week since the beginning of the month of January. Again, specialty product lead times continue to be extended, with the major mills reported to be taking orders for March. On resale plate, one mill did admit they had some February tons left, but would be moving into March on all plate products soon.

    John Packard

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