During the week ending August 8, steel plate prices in the Chinese market have continued to trend up slightly. As of August 8, average steel plate prices in the main cities 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 |
4,897 |
+20 |
760 |
+3 |
Low alloy medium plate |
20 mm |
Q345 |
5,025 |
+15 |
780 |
+2 |
Shipbuilding plate |
16 mm |
CCS A/B |
5,190 |
+23 |
806 |
+4 |
As of August 8, aggregate steel plate inventory in the main cities in China totaled 1.48 million mt, decreasing by 24,220 mt from the previous week. In the eastern China region, medium plate inventory was down 7,420 mt week on week.
During the given period, medium plate prices in most regions of China have moved up, with the largest increase observed in northern China. The price increases in the early days of the past week were mainly due to the upward adjustments of steel producers and the higher prices of raw materials. Towards the weekend, however, the price uptrend slowed down amid lackluster demand. Meanwhile, the ongoing European debt crisis and the sluggishness of the stock markets and the steel futures market in China have all contributed to the erosion of the confidence of Chinese steel traders.
Given the support of costs on the one hand and the increased pessimism in the market on the other, it is expected that steel plate prices in the Chinese market will trend sideways or slightly down in the coming week.