Plate Report: Prices Hold, Another Round of Declines Expected

US plate prices were unchanged this week — the first sideways move in nearly a month. Tags had been eroding slowly of late though buyers have remained largely on the sidelines of the spot market, focused on managing inventories.

Nucor’s $120-per-ton ($6-per-cwt) price cut on plate back in mid-September now serves as the top end of the market, with repeated deals from Midwest mills confirmed below the $1,600-per-ton mark. But buying is still hand-to-month and project-specific, sources told SMU.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.