As you may be aware, the price of steel plates has been fluctuating recently. The market is experiencing some changes that could affect both manufacturers and end-users of steel plates. We at Saygan have been closely monitoring these trends and would like to share our insights with you.
In recent months, the price of steel plates has been increasing due to various factors such as a surge in demand, supply chain disruptions, and rising production costs. According to industry experts, these trends are expected to continue in the short-term. In fact, some analysts predict that the price of steel plates may even go up in the near future.
For end-users, the impact of these trends could be equally significant. The rising cost of steel plates may affect their budget and bottom line. End-users may need to review their procurement strategy to ensure they are getting the best value for their money. They may also need to work closely with their suppliers to manage their inventory and ensure they have enough stock to meet their needs...Read More
The impact of these price trends on manufacturers could be significant. As the cost of production goes up, manufacturers may need to adjust their pricing strategy accordingly. This could mean passing on the cost to their customers or looking for ways to streamline their operations to keep costs under control. Manufacturers may also need to manage their inventory more effectively to ensure they have the necessary raw materials to meet demand....Read More
US steel plate market eyes three trends & forecast for 2023:
The outlook for the steel plate industry in the United States is cloudy for 2023 due to three conflicting factors: more incoming supply, expectations for stronger demand and the decoupling of the plate market from hot-rolled coil prices
Demand for domestic plate is expected to be strong in 2023, which some sources say will enable mills to hold prices at or near current levels. However, increasing production capacity and the wide spread between plate and hot-rolled coil prices lead others to believe prices will trend lower in the coming year.
Fastmarkets’ assessment of steel cut-to-length plate carbon grade, fob mill US was $71 per hundredweight ($1,420 per short ton) on December 20, down 1.39% from $72 per cwt on December 13 and down 10.13% from $79 per cwt one month earlier.
This is the lowest level for plate since it was assessed at $71 per cwt on June 11, 2021, midway through the pandemic surge from a low of $25 per cwt on August 28, 2020 to a peak of $95 per cwt on April 8, 2022.
At Saygan, we understand the challenges that these price trends can present to our customers. We are committed to working closely with both manufacturers and end-users to find solutions that will help them navigate these challenges. We will continue to monitor the market and provide updates as the situation evolves.