SMM analysis projects iron ore prices to trend strong in September as steel mills complete maintenance and ramp up hot metal production, lifting ore demand. Rising coke prices are expected to add further cost support. Demand recovery is anticipated with the peak season, though overall upside may be capped by still-weak end-market conditions.
DCE iron ore futures closed higher with spot prices edging up across mainstream grades. Blast furnace operating rates dipped slightly week-on-week and daily hot metal output declined, but bottoming-out signals and improved market expectations lent support. Traders maintained steady shipments while steel mills held back on procurement, leaving spot trading sluggish.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Mild Steel Plate | China | SPOT | USD 510.00/MT | September 2026 |
| Mild Steel Plate | China | SPOT | USD 501.00/MT | August 2026 |
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In China, the average spot price of Mild Steel Plate rose from ~USD 501/MT in August to ~USD 510/MT in September, an increase of ~1.8%. The quarter started on a weak note, as domestic steel prices traded close to production cost and export deals stayed flat through July. This left mills little room to cut prices further, creating a floor for plate values. Supply then tightened, as China's crude steel output fell 3.7% in August and maintenance at mills in North China reduced hot metal production in September. Demand also improved in September, when buyers restocked ahead of the Mid-Autumn and National Day holidays and orders from machinery and appliance makers picked up. However, gains stayed modest because exports remained heavy. Rising output in India and South Korea also added to supply in Asia.
Analyst Insight
According to Procurement Resource, in the near term, mild steel plate prices are likely to stay firm on reduced Chinese output and holiday restocking, though heavy exports may limit further gains.
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Mild Steel Plate markets remained relatively firm during H1 2026 as higher steelmaking costs, freight disruptions, and changing trade flows influenced regional availability. Global crude steel production reached 459.2 million tonnes during January–March 2026, with Asia and Oceania contributing 341.7 million tonnes, indicating substantial regional supply. However, logistical disruptions and higher freight costs through the Strait of Hormuz increased pressure on steel movements and tightened spot availability in some markets. In Asia, stronger post-Lunar New Year construction activity supported steel consumption, while high production levels increased finished-steel availability and limited the scope for stronger gains. Chinese steel exports also weakened, with stainless steel exports declining 28.47% during January–April, reflecting softer overseas demand and greater pressure on domestic inventories; this trade-flow trend also indicated weaker external steel absorption. Mild Steel Plate demand remained linked mainly to construction, infrastructure, engineering, and fabrication activity, with uneven downstream purchasing limiting sustained upward momentum.
Mild Steel Plate is a kind of carbon steel plate containing low amount of carbon. Mild steel is also called as “low carbon steel” as the amount of carbon found in mild steel ranges from 0.05% to 0.25% by weight as opposed to high carbon steel, which contains 0.30% to 2.0% carbon.
It is different from alloy steel and does not contain large amount of alloying elements other than iron. Owing to the presence of low carbon, it is more ductile, weldable, and machinable as compared to carbon and other steels. Mild steel is a general purpose steel that is used in most things starting from table frames to cargo ships.
Flanging and forming, Fabrication , Atmospheric corrosion resistance products, Boilers and pressure vessels, Penstock, Ship building, Oil and gas equipments, Automobile body parts, Pipeline manufacturing, Industrial flooring, Galvanizing pots, Engineering application
M.S. plates , Low carbon steel plates
POSCO , Hico Multifin Products Private Limited, Gravita India Ltd, Canada Metal North America Ltd, Jamestown North America, Boliden Group
CurrencyUS$ (Data can also be provided in local currency)
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Production of Mild Steel Plates generally involve three major steps, viz. primary steelmaking, secondary steelmaking, and casting. Iron ore, coke and lime are obtained and melted together in a blast furnace to produce virgin steel. Once melted, the mixture is transferred to another furnace to remove impurities and make other adjustments to steel’s chemical composition with the addition of carbon and other elements, thus producing mild steel. Then, the obtained product is allowed to solidify into a rectangular shape, which is subsequently brought down to the desired size via hot rolling, cold drawing, etc.
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This report provides the cost structure of tinplate by strip mill process. In this process, the hot rolled steel sheets are pickled in acid to remove the iron oxide layer formed.
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