During the week ending November 4, average prices of steel plate in the Chinese domestic market have declined, while transaction activity in the overall steel plate market has been at low 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 |
3,676 |
-16 |
522 |
0 |
Low alloy medium plate |
20 mm |
Q345 |
3,840 |
-5 |
546 |
+3 |
Shipbuilding plate |
20 mm |
CCS A/B |
4,346 |
-26 |
618 |
0 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, demand for steel plate in China has been slack, forcing traders to sell at lower prices to stimulate sales activities. Bearish sentiment has prevailed among players in the steel plate market. However, inventories in the market are at relatively low levels, which will provide support for steel plate prices.
Meanwhile, as of November 4, rebar futures prices and hot rolled coil (HRC) futures prices at the Shanghai Futures Exchange (SHFE) are up 1.65 percent and 0.18 percent compared to October 28, reaching RMB 3,382/mt ($480.5/mt) and RMB 3,347/mt($475.6/mt), respectively, exerting a positive impact on the domestic steel market. It is expected that steel plate prices in the Chinese domestic market will continue to fluctuate within a limited range in the coming week.
$1 = RMB 7.038