Mild Steel Plate Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Mild Steel Plate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Mild Steel Plate Price Trend for the Second Half of 2023

Mild steel plate prices were observed to fluctuate throughout the second half of 2023. Fluctuations in the feedstock iron ore and steel markets dictated the market behavior for mild steel plates to a large extent. Along with that, the consumption from the downstream manufacturing and vessel industries also influenced the mild steel plate price trend.

Mild Steel Plate Price Trends

The third quarter saw the prices going down marginally as the inventories were well capable of supporting the demands in time. However, from the middle of Q4, as the freight issues unfolded in the Red Sea, the prices started to rise again. Still, the overall market sentiments were very lukewarm as the prices wavered within confined limits. In the Chinese mild steel plate market, the monthly average prices went from around 545 USD/MT in July’23 to about 549 USD/MT in December’23. Overall, mixed market sentiments were observed in H2’23.

Analyst Insight

According to Procurement Resource, the Mild Steel Plate price trends are expected to fluctuate in a similar manner in the coming months; market demands will remain the key driving factor.

Mild Steel Plate Price Trend for the First Half of 2023

Mild Steel Plates or Low carbon steel plates are the commonly used steel plates as they are more ductile, weldable, and machinable because of their low carbon content (0.05% – 0.25%). With high iron content, the Mild Steel Plate market observed mixed price trend in Asia, especially China.

As the manufacturing sector was reviving in China after a long halt because of the COVID-19 pandemic, Quarter 1 opened with moderate demands from downstream sectors. As a result, the Mild Steel Plate spot prices inclined marginally from an average of about 601 USD/MT to about 639 USD/MT within the first quarter. But as the inventories rose and started piling up with no significant improvement in offtakes, the Mild Steel Plate prices declined by about 14% in the second quarter. Overall, varied market sentiments were observed.

Analyst Insight

According to Procurement Resource, the Mild Steel Plate offtakes do not project any significant improvements, and with the current inventory levels, the prices are likely to continue wavering.

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.

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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.

Product Details

Report Features Details
Product Name Mild Steel Plate
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
Supplier Database POSCO , Hico Multifin Products Private Limited, Gravita India Ltd, Canada Metal North America Ltd, Jamestown North America, Boliden Group
Region/Countries Covered Asia Pacific: China , India, Indonesia, Pakistan,  Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand,  South Korea, Iraq, Saudi Arabia, Malaysia, Nepal,  Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore,  Oman, Kuwait, Qatar, 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

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes 
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

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.

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.


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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