During the week ending September 9, average prices of steel plate in the Chinese domestic market have mostly 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 |
3,796 |
+13 |
535 |
+2 |
|
Low alloy medium plate |
20 mm |
Q345 |
3,915 |
+5 |
552 |
+1 |
|
Shipbuilding plate |
20 mm |
CCS A/B |
4,463 |
-13 |
630 |
-2 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, the People’s Bank of China (PBC) announced on September 6 that it has decided to lower the required reserve ratio (RRR) for financial institutions by 0.5 percentage points on September 16, 2019, boosting market players’ sentiments towards prospect for the future steel plate market. For instance, HRC, rebar and iron ore futures prices at Shanghai Futures Exchange (SHFE) have rose by 2.83 percent, 2.25 percent and 1.79 percent on September 9. However, the demand for steel plate has not seen significant improvement. It is expected that steel plate prices in the Chinese domestic market will move sideways in the coming week.
$1 = RMB 7.08