The uptrend observed in the previous week's steel plate market in China has continued to prevail during the past week ending December 8. Most traders are now becoming increasingly optimistic about the prospects for the market in the coming period. As of December 8, the average prices of steel plate products in the main Chinese cities 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 |
4,570 |
+43 |
686 |
+6 |
Low alloy medium plate |
20 mm |
Q345 |
4,740 |
+55 |
712 |
+8 |
Shipbuilding plate |
16 mm |
CCS A/B |
4,943 |
+50 |
741 |
+8 |
During the week in question, many traders started to make upward adjustments to sales prices. At present, many traders are offering Q235 20 mm medium plate produced by first tier mills at RMB 4,620/mt ($693/mt). Also, there are some traders offering as high as RMB 4,700/mt ($705/mt).
The strong uptrend seen in the domestic steel plate market has mainly been due to the lack of strong pressure from market inventories, while mills' price hike announcements have bolstered market prices. In addition, the general anticipation of inflation in China has also contributed to the rises in steel plate prices.
After the rising trend seen in the past couple of weeks, the volume of market transactions has been below normal levels. Most traders think that prices will continue to rise in the future, also depending on demand levels in the market.