Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for steel plate for October this year.
Accordingly, the company has raised its offer prices for Q235 14-29.9 mm steel plate by RMB 250/mt ($35/mt) to RMB 3,900/mt ($549/mt) ex-works.
In September, the company had 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.
China issued several stimulus policies at the end of September, firmly bolstering market sentiments and positively affecting downstream users’ willingness to build up stocks ahead of the long National Day holiday. Since market players are confident as regards the future prospects for the steel plate market. In this context, Shagang has decided to raise its steel plate prices by RMB 250/mt in October.