During the week ending November 7, medium plate prices in the Chinese domestic market have continued to slide down with a smaller decline week on week. As of November 7, the market prices of medium plate products in China are as follows:
Product name |
Specification |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
Common carbon medium plate |
20 mm |
Q235 |
4,287 |
-33 |
678 |
-5 |
Low alloy medium plate |
20 mm |
Q345 |
4,415 |
-15 |
699 |
-2 |
Shipbuilding plate |
16 mm |
CCS A/B |
4,707 |
-30 |
745 |
-5 |
($1=RMB 6.32)
As compared to the last two weeks, the declining trend of Chinese steel plate market has weakened this week. The offers from some traders have begun to show a sign of stability. However, on the whole, the offers in the market vary.
As of November 4, Chinese steel plate inventory totaled 1.4671 million mt, increasing by 8,600 mt week on week. Of which the inventory of Shanghai market amounted to 385,000 mt, up 900 mt week on week.
The traders' attitudes have been improved, but most of them still lack optimism for the future market and continue to adopt a wait-and-see stance.
Overall, it's expected that weak pricing trend in the domestic steel plate market will continue in the short term.