The export prices of heavy steel plates from China are continuing to decline. In the fourth week of November, the export offer prices (of SS40) were recorded at $850/tonne (t), down $15/t w-o-w. These prices have fallen by $100/t for the fifth straight week since they were recorded at $960/t in mid-October, as per a report in SteelDaily.
Sources inform that the delay in demand recovery from consuming industries like construction, weakened raw material prices like iron ore and coking coal are factors leading to a fall in China’s heavy plate export offers.
The domestic market is also showing further signs of weakening as buyers are expecting further price cuts by domestic mills.
It is not clear whether China’s domestic heavy plate makers would cut prices but there are rumours that the current prices may be maintained till the end of the current year.
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