According to a source, prices of steel plates for general use seem to have fallen by $20-30 over the past 2-3 weeks in the regions of the Middle East, Central and South America and Africa. Export prices of plates from Asia to the remote regions had been reported to be $520-530 CFR till November. They are said to have dropped by $20-30 to around $500 CFR all at once.|
On prices of general use plates in the Asian region, the price of Krakatau Posco in Indonesia where an explosion accident at a converter (perceived to be vapor explosion) happened are reported to be $500 CFR Singapore. As the company carries inventories of steel slabs, the company is reported to have no effect on its plate production for the time being. In the Southeast Asian region, besides Indonesian products, that of Chinese ones is reported to be $480 CFR. Accordingly, plate prices in the Southeast Asian region seem to be mainly $480-500 CFR. Seen from this, plate prices in the Asian region have become similar to those in the remote regions. It is said that a sharp price fall of plates in the remote regions has been caused by the penetration of Chinese products.
In the off demand season, cheap prices have been offered, which may strengthen a downward trend in prices. Meantime, such scents are already in the air that Chinese domestic market prices of plates may begin to crawl along the bottom at long last. If so, there is a possibility for prices in the export market as well to be at a bottom now. Adverse factors have been out in the open, with which bottoming out in prices are also increasingly recognized.