India
China
United States
United KingdomQ1 2025
In Q1 2025, China’s steel plate prices declined from $555/MT in Q4 2024 to $550/MT FOB Shanghai pressured by weak domestic demand especially from the property sector and ongoing trade investigations that limited export opportunities. In contrast, the US market saw prices edge up, supported by strong demand from infrastructure and automotive sectors, low inventories, and government-backed projects, with Midwest buyers paying premiums due to shipping delays. The UK also experienced price gains, driven by improved construction activity and restocking by distributors, as well as supply chain adjustments post-Brexit. Meanwhile, Germany’s steel plate prices remained stable, underpinned by balanced supply and steady demand from machinery and construction sectors, with cautious project-based buying and expectations of new energy transition projects in spring. In India, prices dropped amid moderating demand growth, weaker residential construction, and increased competition from imports, despite ongoing government investment in infrastructure.
Q4 2024 – Steel plate market in Q4 2024 picked up in China. Prices in India US and Uk remained largely unchanged on a quarterly basis. The overall market sentiment in Q4 2024 was dull, with some regions seeing modest recovery, particularly in China, while others continued to struggle with oversupply, weakening demand, and competitive pricing.
Q3 2024 –Steel plate prices saw a decline across major economies compared to Q4 2023. Domestic prices in India dropped by 6%, in China by 9%, in the USA by 13%, and in the United Kingdom by 9%. The decline in India was largely attributed to the influx of inexpensive imports, which kept market sentiment bearish. In the European Union, steel plate prices also edged lower, driven by a persistent market slump as buyers hesitated to make new bookings. High inventory levels and expectations of further price declines led to reduced buying activity, further pressuring prices.
Q2 2024, steel plate prices saw fluctuations across key markets, influenced by seasonal factors, local supply-demand imbalances, and policy-driven dynamics. In China, steel plate prices continued to decline after the Dragon Boat Festival on June 10, primarily due to a pessimistic outlook for domestic demand. Weakness in both consumption and investment sectors led to a sharper decline in steel end-use demand, outpacing production. Conversely prices in India picked by 2% in the quarter.
USA saw a sharp 11% decline for the quarter followed by UK decline at 5% for the quarter under review.
Q1 2024, The global steel plate market remained relatively stable, with prices in most regions staying close to those seen in the fourth quarter of 2023. However, some regions experienced minor price increases. In the India and USA, steel plate prices saw modest decline, while China and UK saw price rise.
In UK, steel plate prices were supported by full order books, ongoing seasonal restocking, and a reduced interest in imports, which tightened local supply. The market sentiment in the region remained optimistic, with buyers more confident in securing material for upcoming construction and manufacturing projects.
Q1 2025, prices softened further to $655/MT Ex-Mumbai, a marginal 0.7% decrease in quarter-on-quarter. The market faced slow demand recovery as infrastructure and industrial projects took longer to ramp up after the year-end. Buyers remained cautious, delaying large-volume purchases in anticipation of further price corrections. Export demand was also muted, with Indian plate prices facing stiff competition globally. Mills continued to operate at reduced capacity utilization and prioritized maintaining relationships with key customers through flexible terms. Overall, the market outlook was stable but cautious, with hopes pinned on policy support and a pick-up in domestic project activity in the coming quarters.
In Q4 2024, Steel plate prices continued their downward trend, averaging $660/MT, a 1.3% decline from the previous quarter. Despite some post-monsoon recovery in construction, overall demand growth remained tepid. Increased competition from imports, especially from Asian producers, put additional pressure on domestic mills. Export opportunities were limited, and mills focused on inventory management and cash flow, offering competitive pricing to attract buyers. The market remained subdued, with participants closely monitoring both domestic developments and international trends.
In Q3 2024, prices dropped to $669/MT, a significant 5.9% decline from the previous quarter. The onset of the monsoon season led to a slowdown in construction activity, and several infrastructure projects were temporarily delayed. Export orders softened as global buyers faced economic headwinds and fluctuating international prices. Mills faced rising inventories and responded by offering discounts to stimulate sales. The market mood was cautious, with most buyers purchasing only to meet immediate needs and avoiding speculative buying.
In Q2 2024, Steel plate prices rose to $711/MT, marking a 2.6% quarter-on-quarter increase. This uptick was driven by a seasonal surge in construction and infrastructure projects as the weather improved, along with renewed government spending on public works. Export demand also picked up, particularly from Southeast Asia and the Middle East, where Indian steel remained competitively priced. Mills benefited from tighter supply and firmer raw material costs, which supported higher offers. Market sentiment turned more optimistic, with buyers more willing to commit to forward purchases in anticipation of further price gains.
In Q1 2024, the average steel plate price in India was $693/MT Ex-Mumbai, The market entered the year with moderate demand from the infrastructure and engineering sectors, but sentiment was cautious due to high opening inventories and subdued export orders. Mills maintained production, but buyers were selective, focusing on immediate requirements rather than building stocks. The construction sector showed some resilience, but overall, price movement was limited as both domestic and export markets awaited clearer signals of recovery. Mills offered competitive pricing to stimulate demand, but the market remained largely range-bound.
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
A steel plate is a flat, rectangular product made from steel through a process where the metal is heated above its recrystallization temperature and then passed through rollers to reduce its thickness and achieve the desired dimensions. Unlike coils or sheets, steel plates are typically thicker and are produced in larger sizes, making them suitable for heavy-duty applications. The steel plate production process enhances the material's strength, durability, and surface finish, resulting in a versatile product used in industries such as construction, shipbuilding, automotive, and heavy machinery manufacturing. Steel plates are essential for structural components, storage tanks, and other applications requiring high strength and resistance to wear and corrosion.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property | Specification |
| Carbon Content (%) | ≤ 0.25 |
| Yield Strength (MPa) | 250 – 350 |
| Tensile Strength (MPa) | 400 – 600 |
| Elongation (%) | ≥ 20 – 25 (for a gauge length of 200 mm) |
| Hardness (HRB) | 50 – 80 (typical, varies by grade) |
| Density (g/cm³) | 7.85 |
| Modulus of Elasticity (GPa) | 200 |
| Melting Point (°C) | ~1425 – 1540 |
| Thickness (mm) | 3.0 – 100 (common range, varies by supplier and grade) |
Applications
These events underscore the steel plate market’s vulnerability to global disruptions and highlight the need for continuous monitoring of supply-demand dynamics.
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PriceWatch is your trusted resource for tracking global steel plate price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the steel plate market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.
In addition, PriceWatch provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With PriceWatch, you gain a competitive edge in understanding all the elements that influence steel plate prices worldwide. Stay ahead of the curve with PriceWatch’s reliable, accurate, and timely steel plate market data.
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This research methodology ensures that PriceWatch delivers the most accurate, timely, and actionable Steel Plate pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
A steel plate is a flat, rectangular product made from steel through a process where the metal is heated above its recrystallization temperature and then passed through rollers to reduce its thickness and achieve the desired dimensions. Unlike coils or sheets, steel plates are typically thicker and are produced in larger sizes, making them suitable for heavy-duty applications. The steel plate production process enhances the material's strength, durability, and surface finish, resulting in a versatile product used in industries such as construction, shipbuilding, automotive, and heavy machinery manufacturing. Steel plates are essential for structural components, storage tanks, and other applications requiring high strength and resistance to wear and corrosion.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property | Specification |
| Carbon Content (%) | ≤ 0.25 |
| Yield Strength (MPa) | 250 – 350 |
| Tensile Strength (MPa) | 400 – 600 |
| Elongation (%) | ≥ 20 – 25 (for a gauge length of 200 mm) |
| Hardness (HRB) | 50 – 80 (typical, varies by grade) |
| Density (g/cm³) | 7.85 |
| Modulus of Elasticity (GPa) | 200 |
| Melting Point (°C) | ~1425 – 1540 |
| Thickness (mm) | 3.0 – 100 (common range, varies by supplier and grade) |
Applications
Commodity prices are influenced by a complex interplay of factors, including:
Production cost: Production costs directly influence commodity prices. When production expenses rise, such as through higher raw material or labor costs, commodity prices typically increase. Conversely, lower production cost leads to reduced prices of particular commodity.
Supply and Demand: The fundamental driver of commodity prices is the balance between supply and demand. When demand exceeds supply, prices tend to rise, and vice versa.
Economic Growth: Global economic growth, particularly in emerging markets, can increase demand for commodities, driving prices higher.
Geopolitical Events: Political instability, conflicts, and trade tensions can disrupt supply chains, affecting commodity prices.
Natural Disasters: Weather events such as droughts, floods, and hurricanes can impact the production and availability of certain commodities.
Speculation: Financial speculators can influence commodity prices through their trading activities.
Government Policies: Government policies, such as tariffs, subsidies, and regulations, can impact the production, consumption, and trade of commodities.
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