Monthly Steel Plate Market Report Oct 2017
2017-11-02 13:40:19 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
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1. Market Highlights
Prices for steel plate increased sharply by RMB200/t (USD30/t) right after the National Day holiday stimulated by prices soar of steel billet as well as those in the steel futures market, but they fell back continuously in the following several days during the first week after the holiday, and kept going up and down in the next two weeks, coupled with participants’ wait-and-see attitudes. As Handan city in Hebei province required local steel producers to halve blast furnace production from early October, steel plate outputs from major mills like Handan Steel, Wenfeng Steel and so on were cut obviously during the month, which restrained prices from dropping largely. Complaining insufficient orders for final products and prices increases for steel plate are more largely and quickly than final products, end users were less active in purchasing, leading to a dim market. Reporting unsatisfactory market performance, traders refused to build large inventories. Insiders foresee a slight price decline in November.
Prices for steel plate increased sharply by RMB200/t (USD30/t) right after the National Day holiday stimulated by prices soar of steel billet as well as those in the steel futures market, but they fell back continuously in the following several days during the first week after the holiday, and kept going up and down in the next two weeks, coupled with participants’ wait-and-see attitudes. As Handan city in Hebei province required local steel producers to halve blast furnace production from early October, steel plate outputs from major mills like Handan Steel, Wenfeng Steel and so on were cut obviously during the month, which restrained prices from dropping largely. Complaining insufficient orders for final products and prices increases for steel plate are more largely and quickly than final products, end users were less active in purchasing, leading to a dim market. Reporting unsatisfactory market performance, traders refused to build large inventories. Insiders foresee a slight price decline in November.
