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CTL plate arriving in US priced above domestic - 8 December 2011

Cut-to-length plate imports, booked in the summer, that have been arriving in the US throughout November and into December, are priced higher than current domestic US pricing.

A majority of the overseas imports of CTL plate have been arriving from Severstal in Russia. According to US import license data, 17,531 tonnes of such plate were exported to the US from Russia in November.

Based on the US license data, Germany sent about 11,200 t of discrete plate in November, the second highest overseas total behind Russia, Steel Business Briefing notes.

The imports that have been arriving are in the range of $940-950/s.t landed in Gulf ports compared to current domestic spot pricing of $920-940/s.t, fob mill, with wide reports of discounting to as low as $850/s.t.

"I'd hate to be caught with that material," said one plate trader.

When the imports were booked in the summer domestic pricing was as high as $1,100/s.t.

“We made the buy in July, by the time the plate hit, (domestic) prices have dropped, now we are behind, that is the game you play,” one service center source said.

Domestic plate has lead times as short as two weeks to just over four weeks compared to imports with delivery for February or March 2012.

Current offers for Gulf of Mexico delivery have been reported in the range of $860-900/s.t landed. Import offers for heavier plate have been reported from Brazil and Germany.

 

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