Adverse weather impacts Chinese domestic steel plate market

During the week ending July 11, average prices of common carbon and low alloy medium plate in the Chinese domestic market have indicated a slight uptrend, though shipbuilding plate prices have moved on a stable trend, while transaction activity in the overall market has been at decent levels. Average steel plate prices in China are presented in the table below. 

During the given week, due to support from the rising trend of finished steel futures prices in China, domestic prices for common carbon and low alloy medium plate have indicated slight upticks. The ongoing rainy weather and floods in some regions in China have negatively affected production activities. Meanwhile, steel plate supplies in the spot market are at relatively low levels. Reduced outputs will result in fewer supplies arriving in the spot market, and this will provide some support for steel plate market prices. However, the rainfall and floods have also negatively affected transportation and transaction activities against the backdrop of the traditional offseason for demand. It is thought that steel plate prices in the Chinese domestic market will move sideways in the coming week. 

 

 

 

 

 

17 percent VAT is included in all prices and all prices are ex-warehouse.

 

$1 = RMB 6.69