Standard Plate Price Trend and Forecast

Standard Plate Regional Price Overview

Get the latest insights on price movement and trend analysis of Standard Plate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Standard Plate Price Trend for First Half of 2024

Stay updated with the latest Standard Plate prices, historical data, and tailored regional analysis
 

A standard plate, commonly referred to as a steel plate, is a flat sheet of steel that is produced in various thicknesses and dimensions. These plates are essential components in many industries due to their strength, durability, and versatility. Their production involves sophisticated processes, including ironmaking, steelmaking, rolling, and various finishing treatments, ensuring they meet specific application requirements.
 

Standard Plate Price Chart

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In the European market, the standard plate industry faced a lot of struggles throughout the first half of the year 2024. With wavering equilibrium between the supply and demand outlooks, the prices mostly remained range-bound. The price for the 8-40mm sheets averaged around 929 USD/MT (EXW) in January’24. By April’24, the average prices had reached about 859 USD/MT in the European standard plate markets. Overall, the market sentiments were largely mixed for the most part.

Analyst Insight

According to Procurement Resource, the Standard Plate prices are expected to continue varying in the coming months, given the current pricing fundamentals and dynamics.
 

Standard Plate Price Trend for Second Half of 2023

Stay updated with the latest Standard Plate prices, historical data, and tailored regional analysis
 

During the second half of the year 2023, Standard Plate prices were mostly observed to be wavering at the lower end of the price curve. Particularly in the US and European markets, the pricing outlook was confined and range-bound. These regions saw difficult economic conditions, with economic inflation putting pressure on downstream consumption. The manufacturing and construction sectors were particularly struggling.

In the European market, the monthly average prices for standard plate prices went from about 1127 USD/MT in July’23 to around 919 USD/MT in December’23. This imparted a 19% decline in the standard plate prices in the European market. Similarly, in the American markets, the prices stood at about 1702 USD/MT, and after facing a consistent decline, the standard plate closed the year at around 1602 USD/MT in December 2023. Overall, a dull market performance was witnessed for standard plates during the said time period.

Analyst Insight

According to Procurement Resource, given the current supply and demand scenarios, the Standard Plate prices are not likely to improve anytime soon in the coming months. A meek performance is anticipated for standard plates in 2024.
 

Standard Plate Price Trend for the First Half of 2023

The production of standard plates majorly employs the usage of iron and steel, and thus, its price trend is also dependent on the market trend of iron and steel. In the first quarter of 2023, the iron and steel sectors performed steadily, with a steady rebound in China, but in the second quarter, the market started losing momentum.

In the second quarter, the rates of imports of iron and steel in China showed a significant reduction as the demand started to stumble amid the poor performance of the Chinese economy. The domestic rates of production also slid due to the weak movement of the construction and manufacturing sectors. This downward trend was also accelerated by the aftereffects of COVID-related restrictions and a long stretch of New Year holidays. These factors had an adverse effect on the trend of iron and steel and, in turn, led to the downfall in the price trend of standard plates also.

Analyst Insight

According to Procurement Resource, the price of Standard Plate is expected to fluctuate amid weak market sentiments and the plunging situation of the downstream sectors.

Procurement Resource provides latest prices of Standard Plate. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.