Major Chinese plate producer undercuts peers despite stable domestic market

Export prices for Chinese plate softened over the past week after a major mill bucked the trend and undercut the rest of its peers.

Fastmarkets’ price assessment for December/January shipments of steel heavy plate export, fob China main port was $435-450 per tonne for the week ended Tuesday November 12, widening downward by $5 per tonne from $440-450 per tonne fob a week earlier.
While export offers rose during the week amid a stable domestic market, Minmetals Yingkou Medium Plate Co - one of the largest producers and exporters of steel plate in China - issued lower ones and secured a lot of orders.

Most mills were only willing to sell at a minimum price of around $460 per tonne fob, but northern China’s Yingkou accepted bookings at $435-445...

Published

Miranda Song

November 13, 2019

06:12 GMT

Shanghai