China’s heavy plate (SS400) export prices continued to fall further this week, by $20/tonne (t) to $865/t on CFR basis compared to $845/t CFR a week ago, as per a SteelDaily report.
Prices have fallen by around $100/t within a span of a month, from around $960/t during mid-October.
Decline in iron ore prices, weak demand, softening steel prices have altogether contributed to the fall in plate export offers. This, in turn, is likely to impact the domestic market as well.
Further, it is expected that prices might weaken in the near term because of stagnant demand and low buying interest.
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