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In the final quarter of 2022, the Steel Plate Price plunged in the US market owing to the limited inquiries from the downstream segment. In October, major manufacturers were curtailing production activity to fill the supply-demand gap.
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Steel Plate Price Trend and Forecast In the final quarter of 2022, the Steel Plate price plunged in the US market owing to the limited inquiries from the downstream segment. In October, major manufacturers were curtailing production activity to fill the supply-demand gap. The Mississippi River's water level had dropped so low that barges had become stuck, resulting in costly dredging and traffic congestion. According to manufacturers, Steel Plate fell as the market remains concerned about logistics. As shippers cannot load as much weight on a barge at low water levels, barges became much more expensive, causing shipping delays. Towards the quarter's end, the inventory level dropped, and Steel Plate manufacturers started raising prices, anticipating a higher demand outlook before the Christmas holiday. Buyers had opted wait-and-watch outlook as the market slowed ahead of the holidays. Thus, Steel Plate (20 mm) prices for Ex Works Texas (USA) settled at USD 1605/MT. https://www.chemanalyst.com/Pricing-data/steel-plate-1439
In the Chinese market, the Steel Plate pricing In the Chinese market, the Steel Plate pricing showcased a declining trend in the final quarter owing to the limited downstream demand amidst higher inventory levels. Steel mills lowered their output in October, and steel transactions increased. Measures for preventing and controlling epidemics were tightened in some places, and transportation and logistics were stopped. Production capacity was high, and significant supply limitations were observed. However, because of the high cost of raw materials, the steel plant quickly experienced a loss. Market participants claim that domestic COVID regulations and the complicated international scenario harm the revival of steel demand. Fewer Chinese steel mills intend to stock up on steel plates before the Chinese New Year. Thus, Mild Steel (Q235B-10 mm) Plate prices for Ex Shanghai (China) settled at USD 554/MT. https://www.chemanalyst.com/Pricing-data/steel-plate-1439
Towards the closure of Q4, the Steel Plate prices edged in the downward direction amidst a higher inventory level and stable demand Towards the closure of Q4, the Steel Plate prices edged in the downward direction amidst a higher inventory level and stable demand outlook. Steel plate prices remained low in October as a result of strong demand and the availability of affordable slabs. Suppliers claimed that they were utilizing more expensive slabs since any savings from buying cheaper slabs would be outweighed by increasing energy prices in Europe. However, trading activity in the area remained minimal, with the majority of the tonnages exchanged being minor. Instead of investing in more capacity, buyers would rather sell off their depreciating stock. After reserving the necessary volumes in December, large purchasers fled the market, which was already slowing due to the impending Christmas holidays. Thus, the discussions of Steel Plate (16 mm) prices for Ex Ruhr settled at USD 963/MT. https://www.chemanalyst.com/Pricing-data/steel-plate-1439
In the final quarter of 2022, the Steel Plate prices plunged in the US market owing to the limited inquiries from the downstream segment In the Chinese market, the Steel Plate prices showcased a declining trend in the final quarter owing to the limited downstream demand amidst higher inventory levels. Steel mills lowered their output in October, and steel transactions increased. Towards the closure of Q4, the Steel Plate prices edged in the downward direction amidst a higher inventory level and stable demand outlook. Steel plate prices remained low in October as a result of strong demand and the availability of affordable slabs.
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