China's medium plate market registered a decline in the past week as demand failed to indicate improvement, with prices of medium plate products dropping on average by RMB 50/mt ($7/mt).
Product name |
Specification |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
Common carbon medium plate |
20 mm |
Q235 |
4,370 |
-53 |
653 |
-8 |
Low alloy medium plate |
20 mm |
Q345 |
4,580 |
-50 |
685 |
-7 |
Shipbuilding plate |
16 mm |
CCS A/B |
4,720 |
-127 |
721 |
-19 |
In eastern China, the market has fluctuated in a downward direction. Given the implementation of government policy aimed at saving energy and reducing emissions, and also given the shortage of slabs, most mills are operating at low capacity utilization rates. As a result, there is not much pressure from inventory in this region.
In the southern China market, demand has continued to be slack, with materials being sold off at reduced prices. Ex-works prices have dropped by RMB 100/mt ($15/mt), but are still a little higher than market prices.
In the market in northern China, most market players are not optimistic about the prospects for the market in the future, and some of the large traders have been selling their goods at low prices. Meanwhile, due to the colder weather in this region, construction activity is expected to decline, with an anticipated negative knock-on impact on the local medium plate market.
Autumn is the traditional peak season for the Chinese steel market, but this has not been the case this year. This has contributed to raising the concerns of players in China's medium plate market.