Mild Steel Plate Prices

Mild Steel Plate Prices December 2023

In the fourth quarter of 2023, the price of the mild steel plate in Japan reached 856 USD/MT (Mild Steel (JIS 3101-10 mm) Plate) by December.

Mild Steel Plate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Mild Steel Plate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of mild steel plate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of mild steel plate at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of mild steel plate price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing mild steel plate price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Mild Steel Plate Market Analysis

The global mild steel plate market size reached US$ 97.12 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 146.83 Billion, at a projected CAGR of 4.70% during 2023-2032.

• The ongoing growth in construction and infrastructure projects worldwide, especially in emerging economies is driving the market growth. Mild steel plates are widely employed in the construction of buildings, bridges, highways, and other infrastructure projects due to their versatility and strength. According to Invest India, the construction industry in India is expected to reach $1.4 Tn by 2025. The construction industry market in India works across 250 sub-sectors with linkages across sectors. According to an article published by The Economic Times, India’s construction sector is the largest employment generator with 7.1 crore workforce employed currently and the number is set to cross 10 crores by 2030, as per Knight Frank-RICS report. The output generated from the Indian real estate sector is estimated to grow to USD 1 trillion by 2030 from the existing USD 650 billion, it added.
• Rapid urbanization and industrialization contribute to the increased demand for mild steel plates. Industries including automotive, shipbuilding, and manufacturing require large quantities of steel plates for different applications, from equipment and machinery to vehicle bodies and structural components. According to the World Bank, 56% of the world's population 4.4 billion inhabitants live in cities in the present times. This trend is expected to continue with the urban population more than doubling its current size by 2050, at which point nearly 7 of 10 people will live in cities.
• The market is also driven by the growing automotive industry. The demand for automobiles, such as commercial vehicles, and passenger cars continues to rise, thus fueling the need for steel plates used in the introduction of frames, chassis, and other components. According to the India Brand Equity Foundation (IBEF), The Indian passenger car market was valued at US$ 32.70 billion in 2021, and it is expected to reach a value of US$ 54.84 billion by 2027 while registering a CAGR of over 9% between 2022-27. The global EV market was estimated at approximately US$ 250 billion in 2021 and by 2028, it is projected to grow by 5 times to US$ 1,318 billion.

Mild Steel Plate News

The report covers the latest developments, updates, and trends impacting the global mild steel plate market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the mild steel plate price trend.

Latest developments in the mild steel plate industry:

• In January 2024, ArcelorMittal announced that it has established a partnership with the Indian Institute of Technology Madras (IIT Madras) and is working closely with IIT Madras’ Hyperloop Technology teams- Avishkar Hyperloop, student team and TuTr Hyperloop, a startup incubated at IIT Madras, which are developing cost-effective Hyperloop technologies call passenger and cargo mobility at scale.
• In November 2023, ArcelorMittal, the world’s leading steel and mining company, and Schneider Electric, the leader in the digital transformation of energy management and automation, announced a partnership whereby ArcelorMittal will supply Schneider Electric with XCarb recycled and renewably produced steel for its electrical cabinets and enclosures.
   

Product Description

Mild steel plate or low carbon steel plate refers to a sort of steel with a relatively low carbon content, typically around 0.05% to 0.25% by weight. This low carbon content makes it more malleable and ductile, allowing it to be easily shaped and welded compared to higher carbon steels.

Mild steel plates are extensively employed in manufacturing, industrial, and construction applications due to their excellent weldability, machinability, and affordability.

They are commonly used in the production of structural components like beans, frames, and columns, as well as in the fabrication of machinery parts, automotive components, and general metalworking projects.

They are available in different sizes and thicknesses, making them versatile for a range of applications. This surface can be coated or treated to enhance corrosion resistance and extend its lifespan in different environments.

Regional Coverage

The report provides a detailed analysis of the mild steel plate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the mild steel plate price trend.

Global Mild Steel Plate Price

The report offers a holistic view of the global mild steel plate pricing trends in the form of mild steel plate price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of mild steel plate but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed mild steel plate demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Mild Steel Plate Price

Europe's mild steel plate pricing trends are deeply affected by its stringent environmental regulations and the push towards sustainable and recycled materials. The automotive and aerospace industries in Europe, which demand high-quality specialty metals, further complicate the pricing landscape. Energy costs and the availability of renewable energy sources also significantly influence mild steel plate production costs. Additionally, the region's dependency on mild steel plate imports, coupled with fluctuating currency values, adds another layer of complexity to understanding price trends in this market.

Detailed price information for mild steel plate can also be provided for an extensive list of European countries.

North America Mild Steel Plate Price

In North America, mild steel plate prices are closely tied to technological advancements in extraction and processing techniques, which aim to reduce costs and enhance efficiency. The region's emphasis on defense and technology sectors, which require precise and high-grade metals, drives demand variability. Furthermore, trade policies, particularly those involving major trade partners like Canada and Mexico, heavily influence mild steel plate supply chains and pricing structures. The shift towards green energy and electric vehicles in North America also affects demand patterns for metals.

Specific mild steel plate historical data within the United States and Canada can also be provided.

Middle East and Africa Mild Steel Plate Price

The mild steel plate pricing trends in the Middle East and Africa are increasingly impacted by infrastructural developments and investments in the construction and transportation sectors. The region’s political climate and its effect on operational stability and security are also crucial in determining price trends. Additionally, the Middle East's strategic initiatives to diversify away from oil dependency and invest in mining and metal production capabilities are reshaping its market dynamics. In Africa, the availability of resources combined with foreign investment in mining projects heavily influences local and global mild steel plate supply and prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Mild Steel Plate Price

In the Asia Pacific region, mild steel plate pricing dynamics are significantly influenced by robust industrial growth and expanding manufacturing sectors, particularly in China and India. The region's high demand for metals is driven by its active construction industry and increasing investments in infrastructure projects. However, supply disruptions due to geopolitical tensions and regulatory changes in mining practices also play a critical role in shaping price fluctuations. Additionally, trade policies and import-export tariffs continue to impact the cost structures and availability of mild steel plate, making the Asia Pacific market a complex environment for price trend analysis.

This mild steel plate price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Mild Steel Plate Price

Latin America's mild steel plate market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in mild steel plate prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, economic fluctuations and currency devaluation are critical factors that need to be considered when analyzing mild steel plate pricing trends in this region.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of mild steel plate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting mild steel plate price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The mild steel plate price charts ensure our clients remain at the forefront of the industry.