During the week ending October 14, average prices of steel plate in the Chinese domestic market have edged down, while transaction activity in the overall steel plate market has been at low-to-medium levels. Average steel plate prices in China are presented in the table below.
|
Product name |
Specification |
Category |
Average Price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
Common carbon medium plate |
20 mm |
Q235 |
3,753 |
-20 |
531 |
-2 |
|
Low alloy medium plate |
20 mm |
Q345 |
3,885 |
-20 |
549 |
-3 |
|
Shipbuilding plate |
20 mm |
CCS A/B |
4,410 |
-23 |
623 |
-4 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, the inventory level of steel plate has increased, indicating market players’ bearish sentiments towards prospect for the future market. Meanwhile, following the week-long holiday, rebar futures prices and HRC futures prices have been down 3.4 percent and 3.44 percent compared to that recorded on September 30, reaching RMB 3,352/mt ($473/mt) and RMB 3,344/mt ($473/mt), exerting a negative impact on steel plate market.
$1 = RMB 7.07