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Mild Steel Plate Price Trend

Indian steel producers hiked steel prices by 5000 INR/MT in order to compete on the worldwide market, given that Russia is the fourth largest producer of steel and contributes between 12% and 12.5% to the global market. Europe is experiencing a steel shortage. India is seeing higher demand for steel, increasing the domestic steel prices.

Steel demand in China, one of the world's top producers and consumers, is predicted to remain flat in 2022. After a slowdown in real estate activity and a government-imposed cap on steel production, China saw negative demand growth in 2021. These reasons are likely to prevail this year, but recent hints suggest that output constraints may be lifted significantly in the coming months.

Steel demand in North America is expected to rise 5.4% year over year, from 129.6 MT to 136.5 MT. The semiconductor chip scarcity, oil prices, and the infrastructure stimulus plan are all indicators that could affect steel demand in the United States. President Biden signed a $1 trillion bipartisan infrastructure plan into law in November 2021. This infrastructure bill increased funding for roads, broadband, and utilities by $550 billion.While the bill's financing would be disbursed over a 5-year period, road infrastructure projects may see an increase in funding beginning in 2022. In the second half of 2022, these projects may increase demand for mild carbon steel plate materials used in infrastructure and road plate applications.

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Procurement Resource provides latest prices of Mild Steel 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.

Chart Description:

Procurement Resource provides prices of Mild Steel Plate for several regions around the globe, which are as follows:

North America
South America
Europe
Asia Pacific
Middle East
Africa

About Mild Steel Plate:

Mild Steel Plate is a kind of carbon steel plate containing low amount of carbon. Mild steel is also called as “low carbon steel” as the amount of carbon found in mild steel ranges from 0.05% to 0.25% by weight as opposed to high carbon steel, which contains 0.30% to 2.0% carbon. It is different from alloy steel and does not contain large amount of alloying elements other than iron. Owing to the presence of low carbon, it is more ductile, weldable, and machinable as compared to carbon and other steels. Mild steel is a general purpose steel that is used in most things starting from table frames to cargo ships.

Synonyms:

M.S. plates
Low carbon steel plates

Industrial Uses:

Flanging and forming
Fabrication
Atmospheric corrosion resistance products
Boilers and pressure vessels
Penstock
Ship building
Oil and gas equipments
Automobile body parts
Pipeline manufacturing
Industrial flooring
Galvanizing pots
Engineering application

Production Processes:

Production of Mild Steel Plate via

Production of Mild Steel Plates generally involve three major steps, viz. primary steelmaking, secondary steelmaking, and casting. Iron ore, coke and lime are obtained and melted together in a blast furnace to produce virgin steel. Once melted, the mixture is transferred to another furnace to remove impurities and make other adjustments to steel’s chemical composition with the addition of carbon and other elements, thus producing mild steel. Then, the obtained product is allowed to solidify into a rectangular shape, which is subsequently brought down to the desired size via hot rolling, cold drawing, etc.

Supplier Database:

POSCO
Hico Multifin Products Private Limited
Gravita India Ltd
Canada Metal North America Ltd
Jamestown North America
Boliden Group

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Methodology:

The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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