During the week ending December 9, average prices of common carbon and low alloy steel plate in the Chinese domestic market have moved up, 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 |
3,846 |
+30 |
546 |
+3 |
|
Low alloy medium plate |
20 mm |
Q345 |
3,950 |
+15 |
561 |
+1 |
|
Shipbuilding plate |
20 mm |
CCS A/B |
4,373 |
-3 |
621 |
-2 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
As of December 9, rebar and HRC futures prices at Shanghai Futures Exchange (SHFE) have risen by 1.88 percent and 0.94 percent week on week to RMB 3,668/mt ($520.9/mt) and RMB 3,677/mt ($522.2/mt), respectively, signaling bullish sentiments as regards the future prospects for the steel market.
During the given week, inventories of steel plate have been at relatively low levels, providing support for prices. Since supply of steel plate has been on the tight side, most traders have been unwilling to sell at lower prices. It is expected that steel plate prices in the Chinese domestic market will move sideways in the coming week.
$1 = RMB 7.041