Specification |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price |
Weekly change ($/mt) |
|
Common carbon medium plate |
20 mm |
Q235 |
5,027 |
-3 |
771 |
-0.4 |
Low alloy medium plate |
20 mm |
Q345 |
5,110 |
-10 |
784 |
-2 |
16 mm |
CCS A/B |
5,417 |
0 |
831 |
0 |
Affected by the steel futures market, by lower prices in the domestic hot rolled coil market and increased inventories of medium plate, traders of medium plate in China are inclined to adopt a wait-and-see approach to the market. Considering the current high costs, most traders do not want to lower their prices.
Regarding inventory, on May 6 the aggregate inventory of medium plate in China's major markets was 1,472,510 mt, up 3,340 mt compared with April 29, which constituted the first increase after eight straight weeks of decrease. On the same date, total inventory of medium plate in the Shanghai market was 375,390 mt, up 1,370 mt week on week.
On the mills' side, Shanghai-based steelmaker Chunye Steel shut down for maintenance in April and is expected to resume production in May; steelmaker Jiangsu Feida also shut down in April and is due to resume production in May. Jiangsu Province-based Xicheng Steel has been producing reduced volumes of medium plate. Meanwhile, the market share of Liaoning Province-based Yingkou Steel has gradually increased, helped by the steelmaker's expanding network of agents.
As for the coming week, the Chinese medium plate market may decline slightly affected by the sluggish transaction situation.