Wednesday, July 23, 2008

Plate prices rise by USD 105 per short ton in US

Platts reported that standard cut to length steel plate in the US is selling for more than USD 1,330 per short tons as compared with USD 1,240 per short tons on June.
Sources at plate mills as well as buyers at processing and distribution centers said that demand for plate remains at very high levels in North America and shows no signs of falling back anytime soon.
The Platts price assessment of grade A36 carbon plate increased to a new range of USD 1,330 to USD 1,360 per short tons ex works Southeast US, reflecting the tightness of this market. The import price assessment remained unchanged at USD 1,230 per short tons CIF Houston, pending verification of any business done at higher prices for new orders.
Emboldened by fundamentals working in their favor, all major domestic producers have announced anther round of price increases beginning next month.
ArcelorMittal USA said that it would raise its carbon base price to USD 64.75 per CWT from USD 62.25 per CWT effective on August 3. It is the country's largest producer of steel plate, producing and processing all grades and sizes of plate at five US locations.
A second plate producer, Nucor, plans to raise base prices of discrete plate and coiled plate by USD 100 per short ton in August.
Claymont Steel also plans to raise its mill prices by USD 100 per short ton in August.
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