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steel plate Pricing Assessment

  • Commodity Pricing

Markets Covered: 

inIndia
cnChina
usUnited States
gbUnited Kingdom

Steel Plate Price Trend, Analysis and Forecast

The global steel plate market remained relatively stable in Q1 2024, 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.  

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 sharp 11% decline for the quarter followed by UK decline at 5% for the quarter under review. 

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. 

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. 

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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, keeps you fully informed of market dynamics.

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Track 's steel plate price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.

Historically, several events have caused significant fluctuations in steel plate prices

  • Global Economic Downturn (2019-2020): The global economic slowdown, particularly in sectors like steel and automotive, led to reduced demand for STEEL PLATE, resulting in lower prices. 
  • COVID-19 Pandemic (2019-2020): The global pandemic led to a significant decline in demand for STEEL PLATE-intensive industries, such as steelmaking and automotive manufacturing, causing prices to plummet. 
  • Global Supply Chain Disruption (2022): The war in Ukraine and other geopolitical tensions disrupted supply chains, leading to price volatility in various commodities, including steel plate. 
  • Trade Policies and Tariffs: Tariffs and trade restrictions, such as the U.S.-China trade war, have led to price volatility in steel markets. 
  • The European Union’s anti-dumping measures on Chinese steel also caused price fluctuations as suppliers adjusted their pricing strategies in response to these regulations. 

 

Methodology and Specifications

steel plate Pricing Assessment Research Methodology

Data Collection and Sources

  • Real-Time Market Data: aggregates real-time pricing data from a diverse range of sources, including global commodity exchanges, industry reports, and proprietary databases. This ensures that our assessments reflect the most current market conditions. 
  • On-the-Ground Intelligence: Our team gathers insights directly from key market participants, including producers, suppliers, traders, and end-users, across major Steel Plate production hubs. This ground-level intelligence is crucial for understanding localized market dynamics. 
  • Supply Chain Monitoring: We track the entire Steel Plate supply chain, from raw material availability to production and distribution channels. This includes monitoring feedstock prices, production capacities, and transportation logistics.

Event Tracking and Impact Analysis

  • Geopolitical Tensions: continuously monitors global geopolitical developments, such as conflicts or trade disputes, which can significantly impact Steel Plate prices. Our analysis includes potential disruptions to supply chains and their immediate and long-term effects on pricing. 
  • Natural Disasters and Climate Events: We assess the impact of natural disasters, such as hurricanes or winter storms, on Steel Plate production facilities, particularly in vulnerable regions like the APAC coasts. These events are factored into our price forecasts and supply outlooks. 
  • Economic Shifts: evaluates macroeconomic trends, including global economic growth, inflation rates, and sector-specific demand (e.g., automotive, packaging, to predict shifts in Steel Plate demand and corresponding price movements.

Production Capacity and Supply Analysis

  • Current Production Monitoring: We maintain a comprehensive database of global Steel Plate production facilities, tracking their operational status, maintenance schedules, and output levels. This allows us to assess current supply availability accurately. 
  • Future Capacity Projections: Our research includes detailed forecasts of upcoming Steel Plate production capacities, factoring in new plant constructions, expansions, and technological advancements. This helps in predicting future supply trends and potential price stabilization.

Demand Forecasting

  • Sectoral Demand Analysis: provides an in-depth analysis of demand trends across key sectors, including packaging, automotive, and construction. We track year-on-year demand growth and project future consumption patterns based on economic indicators and industry developments. 
  • Global Demand Dynamics: Our methodology considers regional demand variations and how they influence global Steel Plate pricing. This includes understanding the impact of shifts in manufacturing bases, trade policies, and environmental regulations. 

Pricing Model Development

  • Dynamic Pricing Models: utilizes advanced econometric models to forecast Steel Plate prices, incorporating real-time data, historical trends, and projected market conditions. Our models are continuously refined to enhance accuracy and predictive power. 
  • Scenario Analysis: We conduct scenario-based assessments to evaluate potential future market conditions. This includes best-case, worst-case, and most-likely scenarios, helping our clients prepare for a range of market outcomes.

Reporting and Client Support

  • Comprehensive Reports: Our clients receive detailed reports that include current price assessments, future price forecasts, and in-depth analysis of market drivers. These reports are designed to be actionable, providing clear insights and recommendations. 
  • Ongoing Support: offers continuous updates and personalized support to our clients, ensuring they have the most up-to-date information to make informed decisions. Our experts are available to discuss specific market developments and provide tailored advice. 

This research methodology ensures that delivers the most accurate, timely, and actionable Steel Plate pricing assessments, helping our clients stay ahead of market trends and make informed business decisions. 

Specifications

Molecular Weight[g/mol]

CAS No

HS Code

72082510

Molecular Formula

steel plate

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

Container

Grades Covered

SS400 10mm, IS2062 - 16mm, SAE 1008 1.0mm, DC01 1.00mm

Incoterms Used

FOB Shanghai (China), Ex-Mumbai (India), Ex-Alabama (USA), FD Sheffield (UK)

Synonym

steel plate

Quotation Terms:

15-18 MT

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

Construction: construction of bridges, buildings Ship building: Hull constructions, Decks and Bulkheads Automotive Industry: Vehicle Frames and Chassis Energy Industry: Pressure Vessels and wind turbines

Disclaimer

Steel Plate price provided by is a base price and excludes VAT/Taxes, discounts, or offers. The information herein is accurate to the best of our knowledge as of the date indicated and is provided solely for the convenience of our customers as a reference for steel plate. disclaims any warranties or representations regarding the accuracy of results derived from this information. It is the sole responsibility of the user to assess the suitability of the product for their specific application. This document does not constitute an endorsement to use the product in violation of any applicable patent rights.

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