Chinese steel plate prices drop
2023-04-24 08:19:21 [Print]
BEIJING (Asian Metal) 24 Apr 23 - Dragged by the prices decrease of raw materials as well as the slow market, domestic steel plate traders moved down prices in succession on Sunday. Presently, the mainstream prices of steel plate Q235B 14-25mm stand at RMB4,310/t (USD625/t), RMB4,300/t (USD624/t) and RMB4,510/t (USD654/t) D/P respectively in warehouses Shenyang, Shanghai and Guangzhou, down by RMB70/t (USD10/t), RMB50/t (USD7/t) and RMB30/t (USD4/t) compared with Friday. Insiders foresee further price decline in the following several days in view of the slow market.
"Prices of steel billet decline by RMB80/t (USD12/t) to RMB3,680/t (USD534/t) on Saturday, and those of coal and coke decreased by RMB100-150/t (USD15-22/t) from Friday to Sunday, forcing us to move down prices on Sunday," disclosed a trader in Shenyang, Liaoning. In the meantime, the trader disclosed that end users remain inactive in purchasing facing the quick price decline. "We contacted with several clients on Sunday, but none of them showed intention in placing orders, and we just sold 30t of steel plate Q235B 14-25mm at RMB4,310/t (USD625/t), while last sold 100t of the material at RMB4,380/t (USD635/t) on Friday," added the trader. Taking the low purchasing activities of downstream customers into consideration, he shows little confidence in the market prospect and worries about a further price decrease of steel plate in the forthcoming several days.
Holding around 4,000t of stocks, the trader would sell 6,000t in April. With the typical monthly sales volume of 9,000t, he recorded the sales volume of approximately 11,000t in the first quarter of 2023.
A trader in Shanghai confirms the price decline, quoting RMB4,300/t (USD624/t) without concession for steel plate Q235B 14-25mm, while he last sold 100t of the material at RMB4,350/t (USD631/t) last Friday. Attributing the price decline to the slow market, the trader disclosed that downstream customers hold back from purchasing discouraged by the quick price drops of raw materials. "A regular buyer just bought 30t of the material at RMB4,300/t (USD624/t), while he at least bought 200t at one single time early this month. Besides, peers cut prices to compete sales seeing the downward price trend, and some of them even quote as low as RMB4,270/t (USD619/t) now," complained the trader. Adopting pessimistic attitude towards the market prospect, the trader believes prices of steel plate would edge down further in the coming several days.
The trader would sell 8,000t in April, against 10,000t in March. With the regular monthly sales volume of 10,000t, he totally sold 25,000t from January to March of 2023 and 92,000t in 2022, holding approximately 7,000t in stock for the moment.
"We moved down prices of steel plate Q235B 14-25mm to RMB4,510/t (USD654/t) on Sunday, while insisted on RMB4,540/t (USD659/t) on Friday," stated a trader in Guangzhou. Attributing the price decline to the decreasing prices of raw materials and the dim market, the trader revealed that prices of iron ore, coal, coke and steel billet keep going down, together with the sluggish demand from downstream industries, forcing traders of steel plate to move down prices. "Stimulated by the huge price gap of between steel plate and other products, steel mills expanded steel plate production and the supply increased day by day," explained the trader. He just sold 30t of the material at RMB4,510/t (USD654/t) and last sold RMB4,540/t (USD659/t) on Friday. Upon the soft demand from downstream industries, the trader deems prices of steel plate might decline again in the upcoming several days.
With the typical monthly sales volume of 8,000t, the trader estimates that the sales volume would reach 5,000t in April, similar to March. He roughly sold 12,000t in the first quarter of 2023 and 61,000t in 2022. At present, the trader holds around 3,000t in inventory.
"Prices of steel billet decline by RMB80/t (USD12/t) to RMB3,680/t (USD534/t) on Saturday, and those of coal and coke decreased by RMB100-150/t (USD15-22/t) from Friday to Sunday, forcing us to move down prices on Sunday," disclosed a trader in Shenyang, Liaoning. In the meantime, the trader disclosed that end users remain inactive in purchasing facing the quick price decline. "We contacted with several clients on Sunday, but none of them showed intention in placing orders, and we just sold 30t of steel plate Q235B 14-25mm at RMB4,310/t (USD625/t), while last sold 100t of the material at RMB4,380/t (USD635/t) on Friday," added the trader. Taking the low purchasing activities of downstream customers into consideration, he shows little confidence in the market prospect and worries about a further price decrease of steel plate in the forthcoming several days.
Holding around 4,000t of stocks, the trader would sell 6,000t in April. With the typical monthly sales volume of 9,000t, he recorded the sales volume of approximately 11,000t in the first quarter of 2023.
A trader in Shanghai confirms the price decline, quoting RMB4,300/t (USD624/t) without concession for steel plate Q235B 14-25mm, while he last sold 100t of the material at RMB4,350/t (USD631/t) last Friday. Attributing the price decline to the slow market, the trader disclosed that downstream customers hold back from purchasing discouraged by the quick price drops of raw materials. "A regular buyer just bought 30t of the material at RMB4,300/t (USD624/t), while he at least bought 200t at one single time early this month. Besides, peers cut prices to compete sales seeing the downward price trend, and some of them even quote as low as RMB4,270/t (USD619/t) now," complained the trader. Adopting pessimistic attitude towards the market prospect, the trader believes prices of steel plate would edge down further in the coming several days.
The trader would sell 8,000t in April, against 10,000t in March. With the regular monthly sales volume of 10,000t, he totally sold 25,000t from January to March of 2023 and 92,000t in 2022, holding approximately 7,000t in stock for the moment.
"We moved down prices of steel plate Q235B 14-25mm to RMB4,510/t (USD654/t) on Sunday, while insisted on RMB4,540/t (USD659/t) on Friday," stated a trader in Guangzhou. Attributing the price decline to the decreasing prices of raw materials and the dim market, the trader revealed that prices of iron ore, coal, coke and steel billet keep going down, together with the sluggish demand from downstream industries, forcing traders of steel plate to move down prices. "Stimulated by the huge price gap of between steel plate and other products, steel mills expanded steel plate production and the supply increased day by day," explained the trader. He just sold 30t of the material at RMB4,510/t (USD654/t) and last sold RMB4,540/t (USD659/t) on Friday. Upon the soft demand from downstream industries, the trader deems prices of steel plate might decline again in the upcoming several days.
With the typical monthly sales volume of 8,000t, the trader estimates that the sales volume would reach 5,000t in April, similar to March. He roughly sold 12,000t in the first quarter of 2023 and 61,000t in 2022. At present, the trader holds around 3,000t in inventory.
