Mild Steel Plate Price In Japan
- Japan: 856 USD/MT (Mild Steel (JIS 3101-10 mm) Plate)
In the fourth quarter of 2023, the price of the mild steel plate in Japan reached 856 USD/MT (Mild Steel (JIS 3101-10 mm) Plate) by December.
The latest report by IMARC Group, titled "Mild Steel Plate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of mild steel plate price trend. This report delves into the price of mild steel plate globally, presenting a detailed analysis, along with informative mild steel plate price chart. Through comprehensive mild steel plate price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the mild steel plate demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
Mild Steel Plate Prices December 2023:
- Japan: 856 USD/MT (Mild Steel (JIS 3101-10 mm) Plate)
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The study delves into the factors affecting mild 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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Mild Steel Plate Price Trend- Q4 2023
The Mild Steel Plate market is driven by several key factors. The robust growth in construction and infrastructure projects worldwide fuels demand for Mild Steel Plates due to their durability and cost-effectiveness. The automotive industry's expansion also significantly contributes, as Mild Steel Plates are essential in vehicle manufacturing. Additionally, increased investments in shipbuilding and industrial machinery sectors boost market growth. Technological advancements in steel production, enhancing quality and efficiency, further support the market. Moreover, the rising trend of sustainable and recyclable materials positions mild steel as a favorable choice, aligning with global environmental initiatives.
Mild Steel Plate Market Analysis
The global mild steel plate market size reached US$ 97.12 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 146.83 Billion, at a projected CAGR of 4.70% during 2023-2032. Prices for Mild Steel Plates were shown to vary during 2023's second half. The Mild Steel Plate market was mostly determined by swings in the feedstock iron ore and steel markets. Along with it, the Mild Steel Plate price trend was also impacted by consumption from the vessel and downstream manufacturing sectors. Because the inventories could meet the demand on time, prices decreased slightly in the third quarter. But as the Red Sea freight problems developed in the middle of Q4, the costs began to climb once more. Even yet, the general mood of the market was quite neutral as long as prices remained within certain bounds. The average monthly price of Mild Steel Plates in China increased from around 545 USD/MT on July 23 to approximately 549 USD/MT on December 23.
In general, H2'23 had mixed market attitudes. Procurement Resource states that similar price swings for Mild Steel Plates are anticipated in the upcoming months, with market demand continuing to be the primary driver. Because of their low carbon content (0.05% to 0.25%), Mild Steel Plates, also known as low carbon steel plates, are more machinable, ductile, and weldable than other types of steel plates. The Mild Steel Plate market in Asia, particularly China, showed a mixed price trend due to its high iron content. With the COVID-19 pandemic having put a long-term halt to China's manufacturing industry, the first quarter began with modest demands from downstream industries. As a result, during the first quarter, the average spot price for Mild Steel Plates increased slightly from 601 USD/MT to 639 USD/MT. Nonetheless, the prices of Mild Steel Plate dropped by almost 14% in the second quarter as stockpiles increased and began to build up despite no discernible improvement in offtakes. Diverse attitudes within the market were noted overall.
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Key Points Covered in the Mild Steel Plate Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Mild Steel Plate Prices
- Mild Steel Plate Price Trend
- Mild Steel Plate Demand Supply
- Mild Steel Plate Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Mild Steel Plate Price Analysis
- Mild Steel Plate Industry Drivers, Restraints, and Opportunities
- Mild 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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