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China's plate export prices dip further on slow business

Keywords: Tags  steel plate, export prices, Tianjin Steel, Steel First

SHANGHAI — Chinese steel plate export prices saw a further dip this week due to slow transactions and a decline in the domestic market.

The latest base export prices for commercial-grade, boron-containing plate are $525 to $530 per tonne f.o.b. for shipment in late January or early February, down from $530 to $535 a week ago.

"Plate export prices dropped again this week as there was not a lot of transactions," an export director with Tianjin Steel told AMM sister publication Steel First.

The steelmaker has cut its export offers in its push for sales, he said. Base export offers are now at $540 to $545 per tonne f.o.b., down from $545 to $550 last week.

A manager at another major plate producer in east China confirmed the drop in export prices, but he is not pessimistic on the outlook. "The small decrease in export prices should be temporary. We are not ready to give discounts just for large export volumes," he said, adding that it is pointless to sell a lot of material if it is at a loss.

A decline in the domestic plate market also put downward pressure on export prices. In Shanghai, 14- to 20-millimeter plate was trading at 3,710 to 3,740 yuan ($596 to $601) per tonne Wednesday, down 70 to 80 yuan ($11.25 to $12.85) from a week earlier.

A version of this article was first published by AMM sister publication Steel First.

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