During the week ending October 28, average prices of steel plate in the Chinese domestic market have moved down slightly for common carbon medium plate and shipbuilding plate, though seeing slight rises for low alloy medium plate, 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 |
3,693 |
-10 |
522 |
-2 |
|
Low alloy medium plate |
20 mm |
Q345 |
3,845 |
+5 |
543 |
0 |
|
Shipbuilding plate |
20 mm |
CCS A/B |
4,373 |
-3 |
618 |
-1 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, traders have not been so eager to cut prices for steel plate due to comparatively low inventory levels of steel plate and high-cost products. However, demand from downstream users in China has been slack, weakening support for steel plate prices. Meanwhile, at the Shanghai Futures Exchange rebar futures prices and hot rolled coil (HRC) futures prices have been up 1.12 percent and 1.70 percent compared to that recorded on October 21, reaching RMB 3,327/mt ($470.2/mt) and RMB 3,341/mt ($472.2/mt), exerting a positive impact on the steel market. It is expected that steel plate prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
$1 = RMB 7.076