Jaway Stainless Steel

Plate prices continue to advance in SE Asia

Ship building plate prices have risen in south east Asia. Ship plate from China has been booked in south east Asia at $1,300-1,330/tonne cfr and Japanese origin ship plate at $1,360-1,370/t cfr recently. Ship plates were offered at $1,200-1,250/t levels two months ago.

"Chinese ship plates are now offered at $1,350-1,360/t cfr which is workable today," a trader in Hong Kong tells Steel Business Briefing. Indonesian origin ship plate was transacted recently at $1,385/t cfr Singapore and traders explain that the higher price reflects the fact that the deal includes thinner gauge material which is not being offered from China.

However, some traders in Singapore say that the ship plate market may be softening. "The market has cooled down in the past week, buyers are not so keen to book at higher prices," a local trader says. But he adds: "It is not easy for prices to come down because of higher costs of freight and raw materials including slab."

Commercial plate sales are being offered at around $1,150-1,250/t cfr but demand for commercial plate is weaker than that for ship plate, SBB is told.