Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for medium steel plate for August this year.
Accordingly, the company has decreased its offer prices for Q235 20 mm medium steel plate by RMB 500/mt ($74/mt) to RMB 4,600/mt ($681.5/mt) ex-works.
In July, the producer had cut its offer prices for Q235 20 mm medium steel plate by RMB 500/mt to RMB 5,100/mt ex-works.
HRC futures prices at Shanghai Futures Exchange moved down by a total of RMB 342/mt ($51/mt) or 7.9 percent in July.
In August, demand for medium steel plate is expected to remain slack in the traditional offseason.
$1 = RMB 6.7462
