05/14/2025 21:35:01 UTC | Market Commentary
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US plate prices were unchanged in the week ending May 14, as sources reported bearish price outlooks due to falling scrap prices.
Platts assessed the daily TSI US plate index at $1,240/st on a delivered basis, unchanged from its previous assessment.
A trader source placed tradable value for plate at $1,140-$1,240/st on a delivered basis.
The trader said plate mills have been resilient in holding prices despite lackluster demand levels and order book activity.
Since there are no orders, mills think there is no real reason to lower prices, the trader said.
Nonetheless, concerns have risen in the market as shredded scrap prices have taken a steep downward turn in the past several months, with May prices falling $40/It from April base prices. Leading plate market participants believe plate mills could begin to feel pressure, which could lead to a price decrease.
A Midwest service center source placed tradable value for plate at $1,120/st on a delivered basis.
The service center said prices could likely be bearish through the end of the year, estimating a possible $60-$80/st decrease throughout 2025.
A second Midwest service center source placed tradable value for plate at $1,140-$1,240/st on a delivered basis.
On the import side of the market, offers were heard at $840/st DDP Gulf Coast and East Coast from Malaysia with August delivery.
Average plate mill lead times remained at 5.3 weeks, S&P Global Commodity Insights data showed May 14.
Platts is part of S&P Global Commodity Insights.