Plate sources say market primed for turnaround  

“Plate is a better product for us currently, with a lot of value added enhancing the plate product,” he said.  

The same source contends that the pricing environment isn’t optimal nor is it likely to change immediately. But he added that his business was on track to meet its goals.  

“I’m not sure we’re going to see much in price escalation the remainder of the year. … (But) we’ve been steady the last couple of months, and margins aren’t bad, either – just would like a little more in sales to hit the goals,” he said.  

A sales associate for a large Midwestern service center finds that mill prices are firmer and notes that mills are less negotiable than in the summer.  

“Mills will listen to offers but seem to be trying to dig in and hold firm,” he said.  

An East Coast service center operator is ready for a market shift. Like his West Coast counterpart, the source said that plate is more profitable for his enterprise.  

“Plate is bringing in higher prices than our hot-rolled business, but we’re moving less volume right now,” he said. “Every week is getting better than the last, but it’s only slightly better.” 

SMU’s price assessment for plate stands at $960 per short ton (st) on average. Despite 50% Section 232 tariffs, that’s little changed from $950/st on average this time last year, according to SMU’s pricing records.