Steel Plate Prices In USA
- United States: 1514 USD/M (20mm)
In December 2023, the price of steel plate in the United States rose to $1,514 per metric ton during the fourth quarter.
The latest report by IMARC, titled "Steel Plate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," delivers a comprehensive analysis of steel plate prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Steel Plate Prices December 2023:
- United States: 1514 USD/M (20mm)
- Japan: 854 USD/MT Mild Steel (JIS 3101-10 mm) Plate
- Germany: 950 USD/MT (16mm)
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The study delves into the factors affecting steel plate price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Steel Plate Price Trend- Q4 2023
The steel plate market is driven by several key factors, including the robust growth of the construction and infrastructure sectors. As urbanization and industrialization progress globally, the demand for durable and high-strength materials like steel plates rises. Additionally, the widespread product utilization in the automotive industry for vehicle manufacturing, particularly in producing parts that demand high tensile strength, is boosting the market growth. Besides this, recent advancements in shipbuilding and offshore structures, which require thick and durable steel plates to withstand harsh marine environments, are driving the market growth. Furthermore, recent technological advancements in steel production, such as improved rolling techniques and alloy compositions, which enhance product quality and performance, are fostering the market growth. In addition, the imposition of stringent environmental regulations and the push for sustainable building materials, which is driving innovation in producing eco-friendly steel plates, is fueling the market growth.
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. In North America, steel plate prices in the last quarter were influenced by a combination of factors, including fluctuating raw material costs and changes in domestic production levels. Supply chain disruptions due to labor shortages and transportation issues further strained the market, leading to price volatility. Additionally, trade policies and tariffs impacted import and export dynamics, affecting overall market supply.
In the Asia Pacific region, steel plate prices in the last quarter were primarily driven by the high demand from rapidly growing construction and manufacturing sectors. China's stringent environmental regulations and production curbs to reduce pollution impacted steel production levels, contributing to price increases. Moreover, supply chain disruptions, coupled with rising costs of raw materials like iron ore, further influenced price trends in this region.
In Europe, the factors influencing steel plate prices in the last quarter included supply chain constraints and increased energy costs. The region's reliance on imports for raw materials like iron ore and coal made it susceptible to global price fluctuations. Additionally, the demand surge from the automotive and construction sectors, alongside production challenges due to labor shortages and maintenance shutdowns, contributed to price hikes.
Browse Full Report: https://www.imarcgroup.com/steel-plate-pricing-report
Key Points Covered in the Steel Plate Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Steel Plate Prices
- Steel Plate Price Chart
- Steel Plate Demand & Supply
- Steel Plate Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Steel Plate Price Analysis
- Steel Plate Industry Drivers, Restraints, and Opportunities
- Steel Plate News and Recent developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- 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
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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