Imports start to weigh on China's plate prices

China’s plate export market remained quiet over the past week, though mills started to come under pressure to lower prices amid rising imports of the product as well as slab.

Fastmarkets’ price assessment for May shipments of steel heavy plate export, fob China main port was $450-460 per tonne for the week ended Tuesday March 31, down $10 per tonne from a week earlier.
While few export transactions were heard during the week, import activity for plate and slab was reported to have picked up.
A trading company in eastern China was heard to have bought at least 50,000 tonnes of June-delivery slab over the past two weeks from Russia at around $365 per tonne cfr eastern China.
Portions of these were heard to have been resold to a plate producer in Jiangsu province, according to a trader in Shanghai.

China’s plate prices came under pressure as a result,...

Published

Miranda Song

April 01, 2020

04:55 GMT

Shanghai