Global Steel Plate markets displayed widespread weakness due to persistent demand challenges across construction and industrial sectors. Chinese prices remained stable through policy support, while German and U.S. markets declined amid supply-demand imbalances, excess capacity pressures, and cautious buyer sentiment during the seasonal summer slowdown period.
Global Steel Plate markets exhibited downward pressure in the second week of July 2025, with Chinese prices remaining stable amid policy uncertainty, German prices declining 1.4%, and U.S. prices falling 0.4%. The widespread weakness reflects persistent demand challenges across construction and industrial sectors, compounded by supply-demand imbalances and trade policy disruptions affecting regional market dynamics.
Key Takeaways
China demonstrated remarkable Steel Plate price stability despite challenging fundamentals, with Ex Shanghai prices unchanged following volatile June movements. The stability reflects a delicate balance between rising inventories (+4.1% in medium plates) and Beijing's verbal support for price stabilization. While rumours of Tangshan production cuts provided bullish sentiment, enforcement remained inconsistent with physical supply showing no meaningful drawdown. Export challenges intensified following U.S. tariff increases to 50%, forcing mills to focus on domestic markets while maintaining pricing discipline to avoid predatory competition warnings from state authorities.
Germany experienced the steepest Steel Plate price decline, with 16mm plate falling 1.4% in the Ruhr region as domestic supply-demand imbalances deepened. European mills operated with excess production capacity, creating intense internal competition with minimal import pressure. Construction industry struggles and sluggish heavy machinery sectors maintained weak demand patterns, forcing buyers into hand-to-mouth purchasing strategies that provided insufficient volume to support previous pricing levels.
United States saw modest Steel Plate price erosion of 0.4% Ex Works Texas, reflecting broader market transition into cyclical lows. Despite Nucor maintaining HRC list prices at $910/st, average spot HRC declined, with plate following suit. Mills demonstrated increased willingness to negotiate, with 85% offering discounts in early July. Lead times shortened to 5.2 weeks, indicating slower order books and increased buyer leverage in price negotiations.
Trade policy disruptions significantly impacted global Steel Plate flows, with U.S. tariffs on Brazilian steel and proposed Canadian scrap duties affecting procurement planning. Chinese exports faced mounting barriers from Southeast Asian anti-dumping measures, while European markets remained largely insulated from import competition. Domestic competition intensified across all regions as mills competed for limited order pools amid seasonally weak demand patterns.
Steel Plate market recovery requires coordinated demand improvement across construction and industrial sectors. Chinese policy implementation on production cuts will be crucial for price support, while German and U.S. markets need fundamental demand recovery to absorb excess capacity.
As per ChemAnalyst, Steel Plate markets are expected to remain under pressure through the summer months, with Chinese price stability dependent on effective policy enforcement and production discipline. European and North American markets face continued headwinds from weak construction fundamentals and industrial activity, though seasonal demand recovery in autumn may provide modest support to steel plate. Long-term outlook hinges on infrastructure investment programs and manufacturing sector stabilization across key consuming regions.
