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|Prices of General-use Plates Drop by $10 in Singapore|
According to a source, prices of steel plates for general use seem to have dropped by $10 in the Singaporean market. Prices of general use plates are said to have fallen to a limit with no more decrease in price and have currently remained at the low level. Above price drop is said to be caused by some Chinese mill of which name is not ascertained.|
Chinese major blast furnace mills have left their domestic prices of plates unchanged for these few months. Baoshan Iron & Steel noticed to leave its prices of plates unchanged for August shipment to each customer at the end of June preceding prices of other flat products for August shipment. The national average price of plates in the domestic market of China dropped by several dollars in dollar equivalent but had shown no sign of collapse.
The reason why prices of general use plates continued to crawl along the bottom might be because prices of steel slabs stayed at the high level of $500 or so. As there is no much price difference between plates and slabs, rerolling mills of plates could not purchase slabs, so with no buyers of slabs, prices of both items are thought to have remained flat.
However, recently, slab prices seem to be falling by $5-10. As buying and selling are few, the judgement of the market conditions is difficult but the source of a blast furnace mill is saying that we feel for those prices to begin to drop. There is a possibility that such price decline puts downward pressure on general use plate prices.
In the Southeast Asian market, it is said that offers of PT Krakatau Posco and Korean mills are not found in Indonesia. There seems to be no remarkable movement of Russian and Indian products. Under such circumstances, only some Chinese mill is likely to begin to secure quantity. Attention is paid to whether the price decrease of this time is temporary or prices are further lowered with a price decrease of slabs.
|last modified : Wed 09 Jul, 2014 [09:47]|