November 22, 2008

Chinese Plate export price remain stable

It is reported that Chinese steel plate export offer remain stable this week and this is also the case with local price. On Shanghai market, commercial 16mm plate by Yingkou steel is being quoted at CNY 6050 per tonne, commodity grade 14mm to 16mm plate by Chunye and Feida steel are tagged at CNY 5500 per tonne flat with last Friday. Low alloyed 40mm plate remains flat at CNY 6950 per tonne.

Offers for commodity grade plate by tier two steel makers are at USD 1040 per tonne to USD 1050 per tonne FOB, October shipment. However, some tier three steel mills are quoting commercial plate at USD 1000 per tonne to USD 1010 per tonne FOB for shipments to South Korea. While those by tier one steel producers are at USD 1150 per tonne FOB. There is said to be few conclusion.

Ship plate price are largely unchanged. Those by tier two steel mills are at about USD 1250 per tonne to USD 1300 per tonne FOB as base, which compares with USD 1340 per tonne to USD 1350 per tonne FOB by tier one steel mill. Most producers indicated that export contracts have seen evidently decrease in the past 3 to 4 weeks and such situation is expected to sustain in September.

(Sourced from MySteel.net)