Steel Plate Market Report July 2016
2016-08-03 18:28:52 【Print】
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Prices for steel plate soared by RMB140-180/t (USD21-27/t) during the month, boosted by rising prices for raw materials, as well as on the futures market. Besides, traders with low inventories on hand were eager to lift prices, showing a cautious optimism about the market outlook. However, downstream demand remained insufficient, influenced by the high temperatures and continuous rainfall, resulting in a gloomy market. Given that the supply from mills will be limited from mid-August through to early September due to the G20 Summit being held in Hangzhou, insiders predict another price increase for steel plate in August.
