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Chinese steel plate export offers on the decrease
It is reported that both export price and domestic market price for Chinese steel plate see further decrease this week. Sluggish demand and high inventory level are believed to be major reasons.

On Shanghai market, commercial 16mm plate by Yingkou steel is being quoted at CNY 4000 per tonne, commodity grade 14mm to 16mm plate by tier two steel are tagged at CNY 3500 per tonne down by CNY 450 per tonne and CNY 100 per tonne respectively from last Friday.

Offers for commodity grade plate by tier two steel makers have dropped to USD 600 per tonne to USD 650 per tonne FOB down from USD 660 per tonne to USD 700 per tonne FOB in last week. While those by tier one steel producers are being quoted at USD 650 per tonne to USD 700 per tonne fob a drop of USD 50 per tonne.

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