January 2012 | North American Steels
Plate under downward pricing pressure: Global Market Highlights
China trims steel output.
Conditions in the plate market continued to diverge at the end of year. Mill capacity for higher grades serving the oil, gas, and wind energy markets will remain committed to planning for first quarter; however, there is an underlying issue regarding the over-supply of commodity grades within the plate market. Desperate Ukrainian exporters excluded from Asian markets by fierce price cutting by Chinese exporters have slashed plate offers in Europe to levels ranging between $610-620/tonne fob Black Sea, equivalent to €465/tonne. Similarly, the price of Russian plate is not...
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