With domestic prices of construction steels and hot rolled coil products increasing, the domestic steel plate market in China has also followed suit and trended up slightly. Some transactions are heard, though not for large tonnages. Nevertheless, most traders are trying to keep their prices firm. As of November 3, the average prices of steel plates 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 | 4,380 | +10 | 656 | +1 |
Low alloy medium plate | 20 mm | Q345 | 4,590 | +10 | 687 | +1 |
Shipbuilding plate | 16 mm | CCS A/B | 4,847 | +20 | 726 | +3 |
Given the lack of strong inventory pressure, many traders are reluctant to make concessions in negotiations, especially as most new arrivals in the market are at high prices. While small and medium sized steel mills are keeping their prices high, large producers involved in destocking are providing some discounts in actual concluded deals.
Market insiders are generally not very hopeful as regards the future market due to the lackluster demand for steel plate products from end-users. It is expected that plate prices will soon stop increasing and will resume their previous softening trend, considering the lack of market confidence and the weak demand situation.