Shipbuilding plate prices decline in China

Monday, 12 December 2011 16:35:04 (GMT+3)   |  
During the week ending December 12, price decreases have been seen for low alloy medium plate and shipbuilding plate in the Chinese domestic market, while common carbon medium plate prices are unchanged from the previous week. The largest price decreases have been witnessed for shipbuilding plate. Local medium steel plate and shipbuilding plate prices in China can be viewed in the SteelOrbis price reports section.   In December, Chinese steel plate output is expected to hit 3.978 million mt, up 24,000 mt as compared to last month. Scheduled overhauls at some domestic steel mills contributed to the decline in steel plate production in China in November.  According to the data issued by China’s National Bureau of Statistics, in the first 11 months of the current year Chinese fixed asset investment reached RMB 26.9452 trillion ($4.24 trillion), rising by 24.5 percent year on year. In particular, real estate investment in China climbed by 29.9 percent year on year to RMB 5.5483 trillion ($873.75 billion) in November.  On the whole, despite positive factors, the weak demand coming from downstream industries is expected to restrict any upward movement in the Chinese steel plate market. Market insiders mostly expect that Chinese steel plate prices will follow a sideways trend in the coming week, possibly with a slightly soft tendency.

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