Chinese steel plate market hard to improve
2015-03-10 09:37:52 [Print]
BEIJING (Asian Metal) 10 Mar 15 - Chinese steel plate market is lacking in activity at this moment as new materials are arriving at ports without any improvement of downstream demand. Most traders in China’s major cities choose to offer discounts, so insiders do not think the market will make any progress next several days.
A sales official from a steel plate trading company in Foshan, Guangdong Province offers RMB2,680/t (USD428/t, theoretical weight) VAT included for Q235B 16-20mm from Tianjin Steel, down by RMB50/t (USD8/t) over last trading day.
Noted by the source, new materials from mills in North China started to arrive at port from the middle of last week, so traders have no other choices but to give discounts as the downstream demand is not as strong as expected. At the same time, Liuzhou Steel in Guangxi Province deliver fewer to local market with its plate production lines overhauled for about 20 days from 18th February to 10th March. Therefore, the source predicts a steady market in coming several days.
A steel plate trader in Shanghai reports to Asian Metal that the quotation for Q235B 16-20mm from Huawei Steel is RMB2,460/t (USD393/t) VAT included, falling by RMB20/t (USD3/t) over last trading day.
Noted by the source, the stockpile for steel plate is still on a high level as the downstream demand showed no improvement after the Spring Festival holiday. Prices for steel billet increased by RMB10/t (USD1.5/t) in North China last weekend, so he expects steel plate prices to be stable in the near future.
A steel plate trader in Tianjin reports that the quotation for Q235B 16-20mm from Tianjin Steel is RMB2,370/t (USD378/t) VAT included, down by RMB10/t (USD1.5/t) over last trading day.
Last Friday, the mill gave concluding price for materials delivered between 26th February and 5th March, with that for the above grade at RMB2,410/t (USD385/t) including the discount of RMB50/t (USD8/t). To fulfill the target sales volume, most traders offer small discount to make deals.
A sales official from a steel plate trading company in Foshan, Guangdong Province offers RMB2,680/t (USD428/t, theoretical weight) VAT included for Q235B 16-20mm from Tianjin Steel, down by RMB50/t (USD8/t) over last trading day.
Noted by the source, new materials from mills in North China started to arrive at port from the middle of last week, so traders have no other choices but to give discounts as the downstream demand is not as strong as expected. At the same time, Liuzhou Steel in Guangxi Province deliver fewer to local market with its plate production lines overhauled for about 20 days from 18th February to 10th March. Therefore, the source predicts a steady market in coming several days.
A steel plate trader in Shanghai reports to Asian Metal that the quotation for Q235B 16-20mm from Huawei Steel is RMB2,460/t (USD393/t) VAT included, falling by RMB20/t (USD3/t) over last trading day.
Noted by the source, the stockpile for steel plate is still on a high level as the downstream demand showed no improvement after the Spring Festival holiday. Prices for steel billet increased by RMB10/t (USD1.5/t) in North China last weekend, so he expects steel plate prices to be stable in the near future.
A steel plate trader in Tianjin reports that the quotation for Q235B 16-20mm from Tianjin Steel is RMB2,370/t (USD378/t) VAT included, down by RMB10/t (USD1.5/t) over last trading day.
Last Friday, the mill gave concluding price for materials delivered between 26th February and 5th March, with that for the above grade at RMB2,410/t (USD385/t) including the discount of RMB50/t (USD8/t). To fulfill the target sales volume, most traders offer small discount to make deals.
