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It is reported that export offers for Chinese steel plate have fallen by large range and exporters have felt the pressure of less overseas demand.

Domestic plate prices continue to fall. On Shanghai market, commercial 16mm plate by Yingkou steel is being quoted at CNY 6300 per tonne, commodity grade 14mm to 16mm plate by Chunye and Feida steel are tagged at CNY 5800 per tonne down by CNY 50 per tonne and CNY 100 per tonne respectively from last Tuesday. Low alloyed 40mm plate goes at CNY 7200 per tonne flat with early this month.

Offers for commodity grade plate by tier two steel makers are USD 1115 per tonne FOB to USD 1125 per tonne FOB end September and early October shipment down by USD 30 per tonne to USD 40 per tonne from last month. A North China based steel maker has lowered quotation for SS400 plate to around USD 1100 per tonne to USD 1110 per tonne FOB. Quotations for commodity grade plate by tier one steel mills are at around USD 1280 per tonne to USD 1300 per tonne FOB as base.