Monthly Steel Plate Market Report Dec 2018
2019-01-04 14:36:23 【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 rebounded obviously by RMB200/t (USD29/t) early of the month boosted by the news that China and the U.S. reached a consensus on suspension of imposing extra tariffs, and they remained firm in the following two weeks, but fell back in the fourth week dragged by decreasing prices from steel mills. Meanwhile, prices in other Asian countries decreased slightly during the month. In the meantime, as the demand from downstream industries such as automobile and shipping remained insufficient, the market performance failed to improve. Holding low stockpiles in hand, traders were cautious about supplementing inventories, not being so confident of the market prospect. Considering the demand is likely to shrink further in January with the approach of the Spring Festival (5 February), insiders foresee a nationwide price decline for steel plate by then.
Prices for steel plate rebounded obviously by RMB200/t (USD29/t) early of the month boosted by the news that China and the U.S. reached a consensus on suspension of imposing extra tariffs, and they remained firm in the following two weeks, but fell back in the fourth week dragged by decreasing prices from steel mills. Meanwhile, prices in other Asian countries decreased slightly during the month. In the meantime, as the demand from downstream industries such as automobile and shipping remained insufficient, the market performance failed to improve. Holding low stockpiles in hand, traders were cautious about supplementing inventories, not being so confident of the market prospect. Considering the demand is likely to shrink further in January with the approach of the Spring Festival (5 February), insiders foresee a nationwide price decline for steel plate by then.
