News Room - Steel Industry

Posted on 04 Feb 2008

Asian heavy plate prices keep soaring on strong demand

Facing the increasing consumption in the industries like shipbuilding, machinery and construction, the market price of steel heavy plates in Asia is heading north.

Currently the supply of heavy plates in the region is tight, especially in South Korea.

The restricted supply of plates in South Korea has supported the high-level price in the country as well as the import price. It is reported that China's offer for shipbuilding plates to South Korea has hit beyond CFR US$1,000/ton and JFE Steel's price to the same country also reached FOB US$900/ton.

The imported high prices of heavy plates have driven mills like Posco and Nippon Steel Corporation to proceed a further price hike.