Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for steel plate for September this year.
Accordingly, the company has cut its offer prices for Q235 14-29.9 mm steel plate by RMB 200/mt ($28/mt) to RMB 3,650/mt ($514/mt) ex-works.
In August, the company had cut its offer prices for Q235 14-29.9 mm steel plate by RMB 250/mt ($35/mt) to RMB 3,900/mt ($547/mt) ex-works.
Following the big price decreases observed in August, with several steel plate producers implementing maintenance works in the given month, Shagang has decided to reduce its steel plate prices by a further RMB 200/mt ($28/mt) in September, signaling bearish sentiments as regards the future prospects for the steel plate market.