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Steel Plate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Report Format: PDF+Excel | Report ID: SR112024A22658
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Steel Plate Prices December 2023
|
Product
|
Category | Region | Price |
|---|---|---|---|
| Steel Plate | Metal & Metalloids | USA | 1514 USD/M (20mm) |
| Steel Plate | Metal & Metalloids | Japan | 854 USD/MT Mild Steel (JIS 3101-10 mm) Plate |
| Steel Plate | Metal & Metalloids | Germany | 950 USD/MT (16mm) |
The price of steel plate in the United States for Q4 2023 reached 1514 USD/MT in December. The first week of November saw a slight increase in US spot market steel plate prices, driven by Chinese stimulus measures, global market trends, and macroeconomic factors. However, in the third week of November, prices dropped due to rising inventory levels and increased production.
The Japanese market faced an oversupply as downstream industries, both local and overseas, reduced consumption. Severe winter conditions in Japan, coupled with global shifts in the automotive sector post-COP28, contributed to a modest decline in demand. Consumer concerns about rebel attacks in the Red Sea further subdued orders in downstream industries like paper, pulp, paint, and glass manufacturing. The latest price for Mild Steel (JIS 3101-10 mm) Plate in Japan is USD 854/MT.
In the Germany, steel plate prices reached 950 USD/MT. The prices stabilized in October as mills and distributors reduced operations during the holiday break. Initially, prices rose due to restocking, but demand tapered off with reduced activity in the European steel industry. In December, the cost remained consistent and downstream industries saw lower activity. Interest waned in construction, infrastructure, and machinery sectors, influenced by trade slowdowns, adverse weather, and escalating prices. International market uncertainties, including heightened risks in shipping routes, led buyers to adopt a cautious "wait-and-watch" approach, contributing to market uncertainty.
Steel Plate Price Trend, Market Analysis, and News
IMARC’s newly published report, titled “Steel Plate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of steel plate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing steel plate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
Steel Plate Market Analysis
The global steel plate market size reached US$ 67.6 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 84.8 Billion, at a projected CAGR of 2.60% during 2023-2032.
- Steel plates are essential in construction and infrastructure projects, including bridges, buildings, and highways. Consequently, as government agencies are investing in infrastructure to stimulate economic growth, the demand for steel plates is increasing. This is particularly notable in emerging economies where urbanization and development projects are accelerating. In fiscal 2023, the WORLD BANK provided $12.8 Billion to support infrastructure spending in developing countries. Moreover, according to the bank, developing countries still need to spend about 4.5% of GDP annually to fund basic improvements in energy, transport, digital, and other sectors.
- The automotive sector heavily relies on steel plates for manufacturing vehicle frames and body parts. Hence, the expanding automotive industry driven by increasing vehicle production and demand for electric vehicles is escalating the need for high-quality steel plates. According to OICA, the United States produced 1,74,5171 Million passenger cars and 8 866 384 Million commercial vehicles in 2023.
- Steel plates are also utilized in the construction of energy infrastructure, including power plants, pipelines, and storage tanks. The increasing shifts toward renewable energy sources and the modernization of traditional energy infrastructure is escalating the demand for steel plates in this sector. According to a report published by IMARC Group, the global renewable energy market size reached US$ 892.7 Billion in 2023. Looking forward, it is expected to reach US$ 1,733.0 Billion by 2032, exhibiting a growth rate (CAGR) of 7.65% during 2024-2032.
- Steel plates are also crucial in the defense industry for manufacturing armored vehicles, military vehicles, and protective equipment. At present, with ongoing geopolitical tensions and the need to modernize defense capabilities, the demand for high-quality steel plates for military applications remains robust. In July 2023, the UNITED NATIONS Secretary-General Antonio Guterres told the world’s nations that the post-Cold War period is over, and the world is moving toward a new multipolar era already marked by the highest level of geopolitical tensions and major power competition in decades.
Steel Plate News
The report covers the latest developments, updates, and trends impacting the global steel plate market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in steel plate production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.
Latest developments in the steel plate industry:
- In October 2023, Tata Steel held a groundbreaking ceremony for its upcoming 7,50,000 Tonnes per annum scrap-based electric arc furnace (EAF) steel plant in Ludhiana.
- In September 2023, Tata Steel and the UK Government agreed on a proposal for the largest investment in the UK Steel Industry for the future of sustainable steelmaking in the UK.
Product Description
Steel plates are flat pieces of steel that are widely used in construction, manufacturing, and other industrial settings. They are usually rectangular in shape and designed to meet precise specifications for strength, durability, and dimensions. Depending on the required thickness and qualities, hot or cold rolling is used to create steel plates. These plates come in a range of thicknesses and grades to accommodate a variety of uses. Moreover, their strength, hardness, and other mechanical attributes can be affected by heat treatment, alloying elements, and carbon content, among other things. Nowadays, numerous industries, including construction, automotive, shipbuilding, energy, manufacturing, and defense, use steel plates due to their versatility and widespread use.
Regional Coverage
The report provides a detailed analysis of the steel plate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends.
Global Steel Plate Price
The report offers a holistic view of the global steel plate pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.
Europe Steel Plate Price
The market in the Europe region experienced stability in Q4 2023, primarily due to a slowdown in demand from downstream automotive and construction sectors. In the German steel market, steel plate prices stabilized in October as mills and distributors reduced operations during the holiday break. Afterwards, prices rose due to restocking, and demand tapered off with reduced activity in the European steel industry.
This analysis can be extended to include detailed steel plate price information for a comprehensive list of countries.
| Region | Countries Covered |
|---|---|
| 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, among other European countries. |
North America Steel Plate Price
The North American steel plate market in Q4 of 2023 showed a plunging trend, driven by over-supply and lowering downstream demand. In mid-October, steel plate prices declined due to reduced demand from the automotive and construction sectors and rising input costs and increased inventory levels. Besides, the first week of November saw a slight increase in US spot market steel plate prices, driven by Chinese stimulus measures, global market trends, and macroeconomic factors. However, in the third week of November, prices dropped due to rising inventory levels and increased production.
Specific data on steel plate prices within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada |
Middle East and Africa Steel Plate Price
The report explores the steel plate pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.
In addition to region-wise data, information on steel plate prices for countries can also be provided.
| Region | Countries Covered |
|---|---|
| Middle East & Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Steel Plate Price
The Asia Pacific regions witnessed a decline in steel plate prices in the fourth quarter. The Japanese market experienced a notable surge in prices initially, fueled by increased demand from the transportation and construction sectors. However, the market dynamics changed in November, witnessing a decline in steel plate prices due to a boost in domestic production, leading to higher inventory levels.
This analysis can be further extended to include detailed steel plate prices for a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Steel Plate Price
The analysis of steel plate prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | Steel Plate |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: 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* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
|
| Customization Scope | The report can be customized as per the requirements of the customer |
| Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
Plan B: Quarterly Updates - Annual Subscription
Plan C: Biannually Updates - Annual Subscription
|
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of steel plate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
- The study examines factors affecting steel plate price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the steel plate industry.
Need more help?
- Speak to our experienced analysts for insights on the current market scenarios.
- Include additional segments and countries to customize the report as per your requirement.
- Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
- For further assistance, please connect with our analysts.
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