Steel Plate Prices In USA

• United States: 1514 USD/M (20mm)

In December 2023, the price of steel plate in the United States rose to $1,514 per metric ton during the fourth quarter.

The latest report by IMARC Group, titled "Steel Plate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," delivers a comprehensive analysis of steel plate prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Steel Plate Prices December 2023:

• United States: 1514 USD/M (20mm)
• Japan: 854 USD/MT Mild Steel (JIS 3101-10 mm) Plate
• Germany: 950 USD/MT (16mm)

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The study delves into the factors affecting steel plate price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.

The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.

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Steel Plate Price Trend- Q4 2023

The steel plate market is experiencing significant shifts due to substantial fluctuations in demand across key industries such as construction and automotive. This variability in demand is closely linked to the broader economic landscape, which currently includes factors such as economic uncertainties and shifts in consumer spending habits. For instance, in regions like North America and Europe, the construction and automotive sectors have shown a reduction in activity, which directly impacts the demand for steel plates. Additionally, geopolitical tensions and logistical challenges, particularly disruptions in major trade routes like the Red Sea and Suez Canal, have compounded the impact on market dynamics by affecting supply chains and trade flows. This has led to increased operational costs and delays, further pressuring the market. Moreover, the steel industry is also facing internal challenges such as overproduction, which when paired with reduced demand, leads to oversupply and consequent price reductions. This scenario is evident in the APAC region, where an oversupply in markets like Japan has significantly driven down prices.

Steel Plate Market Analysis

The global Steel Plate market size reached US$ 15.5Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 17.9 Billion, at a projected CAGR of 1.50% during 2023-2032.In North America, the steel plate market has been primarily affected by a decrease in demand from critical sectors such as construction and automotive. This dip in demand is largely due to economic uncertainties which have led to reduced consumer and business spending. Furthermore, disruptions in critical trade routes, notably the Red Sea and Suez Canal, have exacerbated the situation by impacting the supply chain, leading to logistical challenges and higher operational costs. The presence of large, discounted index agreements also plays a role in driving prices down by creating a market environment where large service centers can purchase at lower prices, thereby influencing the overall market sentiment towards expecting continued low prices. This combination of factors has resulted in a steady decline in steel plate prices throughout the quarter.

The APAC region's steel plate market in the first quarter of 2024 faced downward pressure primarily due to weak demand from downstream industries, such as construction and automotive, and an oversupply situation. This weak demand has resulted in stockpiles of steel plate, pushing prices downward. Additionally, disruptions in international trade, including attacks affecting the Red Sea shipping routes and issues in the Panama Canal, have further complicated the market situation by increasing transportation costs and extending delivery times. The Japanese market, in particular, felt the impact of these conditions combined with harsh winter weather, which further depressed the construction industry's demand. These factors collectively have contributed to the bearish pricing environment and the overall decline in steel plate prices in the region.

The European steel plate market has been influenced by several interrelated factors that have contributed to the declining price trends observed in the first quarter of 2024. Economic challenges, including subdued economic activities and low confidence in sectors such as German housebuilding, have directly impacted demand. Additionally, seasonal effects, particularly winter conditions, have suppressed construction activities, further reducing demand for steel plates. Political changes and varying levels of financial support across the EU have also introduced uncertainties that affect market dynamics. Besides this, fluctuations in global scrap prices have created additional volatility in the steel plate market. These diverse factors have collectively led to a significant decrease in steel plate prices across Europe.

Browse Full Report: https://www.imarcgroup.com/steel-plate-pricing-report

Key Points Covered in the Steel Plate Pricing Report:

The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:

• Steel Plate Prices
• Steel Plate Price Trend
• Steel Plate Demand & Supply
• Steel Plate Market Analysis
• Demand Supply Analysis by Type
• Demand Supply Analysis by Application
• Demand Supply Analysis of Raw Materials
• Steel Plate Price Analysis
• Steel Plate Industry Drivers, Restraints, and Opportunities
• Steel Plate News and Recent developments
• Global Event Analysis
• List of Key Players

Regional Price Analysis:

• Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and 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 and Greece
• North America: United States and Canada
• Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
• Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco

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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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