On the back of low inventory levels and mills efforts' to push up their prices, steel plate prices in the Chinese domestic market kept going up during the week ending December 22. As of December 22, the average steel plate sales prices in the main regions of China stood 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 |
4,730 |
+87 |
711 |
+13 |
Low alloy medium plate |
20 mm |
Q345 |
4,895 |
+85 |
736 |
+13 |
Shipbuilding plate |
16 mm |
CCS A/B |
5,000 |
+30 |
752 |
+5 |
During the week under review, the market prices of steel plate continued to trend up in Shanghai, while also attracting much interest from buyers. However, some specifications are hard to find due to slow arrivals. Local mills' efforts to push up prices have also contributed to the rise in local market prices of steel plate. At present, the mainstream market prices of steel plate are approaching RMB 4,750/mt ($714/mt), which is the peak level for the current year recorded in the month of April. According to many traders, in line with anticipated positive economic developments, the local steel plate market will probably continue to follow an uptrend in the New Year.
In the Tianjin market, prices leveled off early in the past week and then rose up again. Meanwhile, buying activities have slowed down towards the end of the week, with some buyers adopting a wait-and-see stance. It is reported that many traders in Tianjin are busy with destocking activities.
In Lecong, prices of steel plate have maintained a rising trend during the past week. Considering the low quantities of ready stock materials they have in hand, traders are reluctant to give discounts. Meanwhile, faced with higher plate prices, downstream buyers are also choosing a wait-and-see approach to the market, resulting in lackluster levels of demand.
Following the price hike announcements made by domestic producers for January, and taking into account the high level of raw material prices, it is expected that the domestic plate market will continue to trend upwards in the coming week.