Steel Plate Prices June 2024
Product
|
Category |
Region |
Price |
Steel Plate |
Metal & Metalloids |
USA |
1185 USD/MT |
Steel Plate |
Metal & Metalloids |
Japan |
747 USD/MT |
Steel Plate |
Metal & Metalloids |
Germany |
873 USD/MT |
During the second quarter of 2024, the steel plate prices in the United States reached 1185 USD/MT in June. The decline was driven due to weak demand and increased competition from low-cost imports. The expected seasonal demand failed to strengthen, exacerbating the negative trend. The market remained under pressure, indicating broader economic challenges and a bearish pricing landscape.
Japan's steel plate market in Q2 2024 experienced significant price reductions, spurred by weak consumption across key industries and a surplus in inventories. Economic slowdowns and seasonality further contributed to the declining trend. The quarter ended with steel plate priced at 747 USD/MT in June. The market remained bearish during the quarter, reflecting continued negative sentiment and ongoing challenges.
Furthermore, Germany’s steel plate market in Q2 2024 faced consistent price declines due to the weakening of local demand and increased competition from importing countries. The market struggled with overcapacity and sluggish economic activity concluding at 873 USD/MT in June. Seasonal factors also contributed to the downturn, leading to a persistently bearish pricing landscape throughout the quarter.
Steel Plate Prices March 2024
Product
|
Category |
Region |
Price |
Steel Plate |
Metal & Metalloids |
USA |
1298 USD/MT |
Steel Plate |
Metal & Metalloids |
Japan |
759 USD/MT |
Steel Plate |
Metal & Metalloids |
Germany |
919 USD/MT |
In the USA, the steel plate prices in early 2024 faced downward pressure due to subdued domestic consumption and heightened imports. Economic ambiguities coupled with substantial bargained contracts led to the price decline, reflecting the overall negative sentiment in the market. The pricing landscape remained challenging during the quarter, concluding at 1298 USD/MT in March.
Japan's market witnessed significant price drops in Q1 FY24. Weak consumption across the automotive and construction sectors, combined with a surplus in domestic warehouses, led to declining prices. Additionally, extreme winter conditions further reduced demand with market prices reaching 759 USD/MT in March.
Moreover, Germany saw consistent price declines in this quarter, reaching 919 USD/MT in March. The downturn was driven by weak demand in the construction industry, poor economic performance, and seasonal winter impacts. Political changes and fluctuating global scrap rates added to the market’s unpredictability and negative sentiment.
Steel Plate Prices December 2023
Product
|
Category |
Region |
Price |
Steel Plate |
Metal & Metalloids |
USA |
1514 USD/MT (20mm) |
Steel Plate |
Metal & Metalloids |
Japan |
854 USD/MT Mild Steel (JIS 3101-10 mm) Plate |
Steel Plate |
Metal & Metalloids |
Germany |
950 USD/MT (16mm) |
The steel plate prices (20mm) in the United States for Q4 2023 reached 1514 USD/MT in December. The market experienced low prices despite appreciation in dollar value. Logistical challenges and potential labor strikes impacted the market significantly. Prices stabilized due to the removal of countervailing duties on imports and moderate demand influenced by inflation concerns. Towards the end of the quarter, there was a slight recovery in prices supported by global economic stimuli but overall remained tempered by increased production and inventory levels.
The price trend for steel plate [mild steel (JIS 3101-10 mm) plate] in Japan for Q4 2023 settled at 854 USD/MT in December. The market initially saw price increases driven by strong construction and transportation industry demand and shifts in procurement by Russian buyers. As the quarter progressed, however, increased local manufacturing led to stockpiling and a downturn in demand, exacerbated by trade disruptions and geopolitical tensions affecting consumer confidence and end use sectors. Prices adjusted downward with the market facing oversupply issues.
In Germany, the steel plate (16mm) prices for Q4 2023 reached 950 USD/MT in December. The market remained stable throughout the quarter, marked by a temporary increase because of restocking. However, demand soon waned, influenced by a slowdown in the steel industry in Europe and upcoming holidays. Despite consistent pricing and high inventory levels, the market took a cautious approach due to potential mill closures, global market skepticism, and a subdued outlook in key sectors like automotive and construction.
Regional Coverage
The report provides a detailed analysis of the 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 steel plate price trend.
Global Steel Plate Price
The report offers a holistic view of the global steel plate pricing trends in the form of 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 the current price but also provides insights into steel plate historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.
The report also delves into steel plate 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 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 Steel Plate Price
Q2 2024:
The market in Europe faced a substantial decline in Q2 FY24 due to reduced consumption across major industries such as automotive and construction, coupled with a surge of affordable importing from Asia. This oversupply led producers in Europe to lower their rates. Germany saw the steepest price reductions, driven by diminished domestic demand and mounting competition. Seasonal factors, such as summer holidays, also contributed to weaker demand. Overall, the market sentiment was negative, with prices consistently falling throughout the quarter, mirroring broader economic difficulties and specific sector slowdowns.
Q1 2024:
Europe’s market prices fell sharply in March 2024. Economic challenges, along with low demand, were the primary factors that led to this decline. In Germany, the market saw the most significant price reductions, influenced by the struggling housebuilding industry and sluggish economic performance. Seasonal factors, particularly winter conditions, also dampened demand, further driving down prices. Political shifts and varying global scrap rates added to the market’s instability. Overall, the European market experienced consistent price declines during this quarter.
Q4 2023:
The market was marked by volatility in Q4 2023, driven by several disruptive factors. The ongoing conflict in Ukraine severely impacted supply chains, while the harvest season brought an influx of sunflower seeds, initially pushing prices down. Despite this, sunflower oil prices saw a notable rise in November due to easing input cost inflation and positive market sentiments. By December, prices adjusted downward, mirroring global declines in other vegetable oils like palm and soybean. This was further influenced by the substitution effect of these oils in various applications, leading to a fluctuating price landscape across the region.
Detailed price information for steel plate can also be provided for an extensive list of European countries.
Region |
Countries Covered |
Europe |
Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Steel Plate Price
Q2 2024:
The North American market encountered substantial challenges in Q2 2024, spurred by an oversupply situation coupled with low consumption across industries like automotive and infrastructure. The disparity between manufacturing capacity and market needs was also aggravated due to a surge in cheaper imports, which pressured local producers into lowering costs to stay competitive. The USA, in particular, saw notable price declines as the seasonal requirement failed to materialize strongly, mirroring overall economic weaknesses. This persistent downward trend reflected deep-rooted market challenges and a general pessimistic pricing landscape throughout the quarter.
Q1 2024:
During the Q1 FY24, the steel plate market faced considerable challenges in North America, marked by a steady decline in prices. This trend was driven by reduced demand across key sectors like automotive and construction, linked to economic ambiguities and diminished purchasing activities among consumers. In line with this, trade route interruptions in areas like the Red Sea and Suez Canal exacerbated the situation. The USA market was further impacted by restrained domestic demand and increased imports, leading to price reductions.
Q4 2023:
During the final quarter of 2023, North America saw a complex trajectory in sunflower oil prices. Prices began declining in early October, coinciding with the peak harvest season in Ukraine, a key exporter. This increased supply led to reduced prices for importers. Despite this, the price of sunflower oil experienced a moderate rebound mid-quarter due to a rise in downstream demand. Throughout the quarter, logistical issues such as a global container shortage and port congestion heightened transport costs, elevating the export costs of sunflower oil. These factors, along with fluctuating global economic conditions and concerns over potential supply shortages, fostered a volatile market, culminating in higher consumer prices by the quarter’s end.
Specific steel plate historical data within the United States and Canada can also be provided.
Region |
Countries Covered |
North America |
United States and Canada |
Middle East and Africa Steel Plate Price
The report explores the steel plate pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.
Region-wise data and information on specific countries within these regions can also be provided.
Region |
Countries Covered |
Middle East & Africa |
Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Steel Plate Price
Q2 2024:
The APAC steel plate market faced a continuous price decline in Q2 2024, influenced by weak requirements from the automotive and infrastructure industry, stock overhangs, and subdued economic growth. The region struggled with persistent oversupply. Trade uncertainties and geopolitical unease further complicated market dynamics, leading to cautious buying activities and price reductions. Japan also observed notable price reductions, driven by seasonal demand and restrained fiscal performance, marking a clear downward trajectory. The market remained bearish, with prices constantly dropping during the quarter, highlighting underlying market weaknesses.
Q1 2024:
The APAC region encountered a difficult Q1 in 2024, with significant price reductions due to factors like weak consumption across the automotive and construction industries. This resulted in a surplus of supply, creating a bearish market. Trade issues, including the Panama Canal's lower water levels and attacks in the Red Sea, led to increased freight costs and extended lead times, further pressuring prices. Japan, in particular, saw significant price drops due to diminished demand and excess supply, exacerbated by harsh winter conditions.
Q4 2023:
The market in the Asia Pacific region was notably influenced by various factors through Q4 2023. The period started with a global surplus from a bountiful Ukrainian harvest, leading to lowered initial prices. However, by the quarter's conclusion, prices escalated due to logistical challenges and heightened port congestion, which delayed sunflower oil shipments and created temporary shortages. The region also saw an increase in demand, particularly as bullish market sentiments took hold, further boosting prices. These dynamics were accompanied by a continual flow of new market quotes, which contributed to stabilizing prices towards the end of December.
This steel plate price analysis can be expanded to include a comprehensive list of countries within the region.
Region |
Countries Covered |
Asia Pacific |
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Steel Plate Price
Latin America's 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 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 steel plate pricing trends in this region.
This comprehensive review can be extended to include specific countries within the region.
Region |
Countries Covered |
Latin America |
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Steel Plate Price Trend, Market Analysis, and News
IMARC’s newly published report, titled “Steel Plate Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of 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 steel plate at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of steel plate price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing 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.
Steel Plate Market Analysis
The global steel plate industry size reached US$ 67.6 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 84.8 Billion, at a projected CAGR of 2.60% during 2023-2032.
- Steel plates are essential in construction and infrastructure projects, including bridges, buildings, and highways. Consequently, as government agencies are investing in infrastructure to stimulate economic growth, the demand for steel plates is increasing. This is particularly notable in emerging economies where urbanization and development projects are accelerating. In fiscal 2023, the WORLD BANK provided $12.8 Billion to support infrastructure spending in developing countries. Moreover, according to the bank, developing countries still need to spend about 4.5% of GDP annually to fund basic improvements in energy, transport, digital, and other sectors.
- The automotive sector heavily relies on steel plates for manufacturing vehicle frames and body parts. Hence, the expanding automotive industry driven by increasing vehicle production and demand for electric vehicles is escalating the need for high-quality steel plates. According to OICA, the United States produced 1,74,5171 Million passenger cars and 8 866 384 Million commercial vehicles in 2023.
- Steel plates are also utilized in the construction of energy infrastructure, including power plants, pipelines, and storage tanks. The increasing shifts toward renewable energy sources and the modernization of traditional energy infrastructure is escalating the demand for steel plates in this sector. According to a report published by IMARC Group, the global renewable energy market size reached US$ 892.7 Billion in 2023. Looking forward, it is expected to reach US$ 1,733.0 Billion by 2032, exhibiting a growth rate (CAGR) of 7.65% during 2024-2032.
- Steel plates are also crucial in the defense industry for manufacturing armored vehicles, military vehicles, and protective equipment. At present, with ongoing geopolitical tensions and the need to modernize defense capabilities, the demand for high-quality steel plates for military applications remains robust. In July 2023, the UNITED NATIONS Secretary-General Antonio Guterres told the world’s nations that the post-Cold War period is over, and the world is moving toward a new multipolar era already marked by the highest level of geopolitical tensions and major power competition in decades.
Steel Plate News
The report covers the latest developments, updates, and trends impacting the global steel plate industry, 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 steel plate price trend.
Latest developments in the steel plate industry:
- In October 2023, Tata Steel held a groundbreaking ceremony for its upcoming 7,50,000 Tonnes per annum scrap-based electric arc furnace (EAF) steel plant in Ludhiana.
- In September 2023, Tata Steel and the UK Government agreed on a proposal for the largest investment in the UK Steel Industry for the future of sustainable steelmaking in the UK.
Product Description
Steel plates are flat pieces of steel that are widely used in construction, manufacturing, and other industrial settings. They are usually rectangular in shape and designed to meet precise specifications for strength, durability, and dimensions. Depending on the required thickness and qualities, hot or cold rolling is used to create steel plates. These plates come in a range of thicknesses and grades to accommodate a variety of uses. Moreover, their strength, hardness, and other mechanical attributes can be affected by heat treatment, alloying elements, and carbon content, among other things. Nowadays, numerous industries, including construction, automotive, shipbuilding, energy, manufacturing, and defense, use steel plates due to their versatility and widespread use.
Report Coverage
Key Attributes |
Details |
Product Name |
Steel Plate |
Report Features |
Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Steel Plate Price Analysis, and Segment-Wise Assessment. |
Currency/Units |
US$ (Data can also be provided in local currency) or Metric Tons |
Region/Countries Covered |
The current coverage includes analysis at the global and regional levels only.
Based on your requirements, we can also customize the report and provide specific information for the following countries:
Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, New Zealand*
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, Greece*
North America: United States, Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, Peru*
Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, Morocco*
*The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
Information Covered for Key Suppliers |
- Company Overview
- Business Description
- Recent Trends and Developments
|
Customization Scope |
The report can be customized as per the requirements of the customer |
Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
- Scope
- Historical Data for the Current Month
- Forecast for Next Month
- Total Deliverables Per Year: 12 (One Per Month)
- Includes: One PDF and Excel datasheet per month, Post Purchase Analyst Support throughout the year
Plan B: Quarterly Updates - Annual Subscription
- Scope
- Historical Data for the Current Quarter
- Forecast for Next Quarter
- Total Deliverables Per Year: 4 (One Per Quarter)
- Includes: One PDF and Excel datasheet per Quarter, Post Purchase Analyst Support throughout the year
Plan C: Biannually Updates - Annual Subscription
- Scope
- Historical Data for the Current Half
- Forecast for the Next Half
- Total Deliverables Per Year: 2 (One Per 6 Months)
- Includes: One PDF and Excel datasheet per Half, Post Purchase Analyst Support throughout the year
|
Post-Sale Analyst Support |
360-degree analyst support after report delivery |
Delivery Format |
PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of 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 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 steel plate price charts ensure our clients remain at the forefront of the industry.