Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for medium plate for July this year.
Accordingly, the company has cut its offer prices for Q235 20 mm medium plate by RMB 500/mt ($75/mt) to RMB 5,100/mt ($761/mt) ex-works. The company has also cut its HRC prices by RMB 600/mt ($90/mt), as reported earlier.
In June, the producer had kept its offer prices for Q235 20 mm medium plate stable at RMB 5,600/mt ex-works.
HRC futures prices at Shanghai Futures Exchange moved down by RMB 404/mt ($60.4/mt) or 8.4 percent during the month of June.
As for July, the demand for medium plate will be sluggish in the traditional offseason.
