Chequered Plate Prices, Pricing, Demand & Supply

North America

In the fourth quarter of 2023, the North American Chequered Plate market experienced a slight declining trend amidst several significant factors that impacted prices. Initially, the Chequered Plate prices in the US surged due to heightened demand from the chemical and automotive industries, coupled with limited upstream material supply. Despite robust economic indicators, the EU and the US failed to resolve a steel dispute. Metallurgical coke and non-coking coal prices rose globally. 

However, in December, Chequered Plate prices in the US declined due to increased production, reduced consumption, and a rise in supply from key producer Outokumpu. Surpluses in Nickel and Chequered Plate Scrap persisted. The Australian coal industry faced disruptions, impacting market dynamics. Meanwhile, the wind power sector is expected to surpass coal in electricity generation by 2026. In December, Chequered Plate prices remained low in the US due to high inventory levels, reduced downstream demand, and winter-related disruptions. 

Global Nickel mining expanded, with the Minnesota Copper-Nickel Mining project overcoming delays. Cheaper Chinese imports prompted US industry shifts. Winter holidays, severe weather, and uncertainties about government policies and the electric vehicle sector contributed to reduced demand in the US spot market. The price of SS Chequered Plate (6 mm) DEL Texas in the USA at the end of the quarter was USD 3983/MT. 

Asia-Pacific

The fourth quarter of 2023 proved to be challenging for the Chequered Plate Prices in the APAC region. In October, Chequered Plate prices in the Chinese spot market declined due to a shift in demand towards the southern direction, driven by Anti-dumping and Countervailing duties in the US and European markets. Uncertainty in upstream Steel scrap and Nickel availability in Chinese warehouses occurred. Chinese steelmakers sought iron ore, leading to the lowest Chinese iron ore stocks in 7 years. World Steel predicted a 7.7% growth in steel demand, causing iron ore inventories to hit a 7-year low. The US Anti-dumping duties contributed to decreasing Chequered Plates prices in China. In the latter part of the last quarter, Chequered Plate prices decreased due to increased Nickel supply and reduced consumption globally. The use of recycled material lowered manufacturing costs compared to high-grade NPI. In December, Chequered Plate prices in the Chinese spot market remained steady despite decreased demand globally. Adverse weather conditions reduced construction and manufacturing, while increased Nickel supply and an IPO in China influenced prices. A blast at a Nickel plant in Sulawesi further affected prices, making high-grade NPI more cost-effective. Trade disruptions in the Red Sea route raised concerns, and lower demand persisted during winter holidays, affecting US and European orders. The latest price for SS Chequered Plate (304-6 mm) Ex Tangshan in China at the end of the quarter was USD 2318/MT, showing an overall decline throughout the fourth quarter.

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Europe

In the fourth quarter of 2023, the Chequered Plate market in Europe experienced various factors that impacted prices. Firstly, In October 2023, the German spot market saw an uptick in Chequered Plate prices, driven by increased demand from the automotive and chemical sectors and a decrease in upstream material supply. Global steel scrap and Nickel pig iron inventory levels dropped due to reduced production rates. The EU Carbon Border Tax faced initial challenges, prompting EU steelmakers to reinforce the export ban on EU ferrous scrap. Weak claims of circumvention against stainless steel products from Turkey, Taiwan, and Vietnam were noted, raising concerns about self-interest among EU steel producers amid uncertainties about the Carbon Border Adjustment Mechanism (CBAM). In contrast, Chequered Plate prices in the German spot market declined in November due to reduced demand from downstream industries and surplus supply. Global manufacturers maintained a higher supply of Nickel. Nornickel increased its global nickel surplus estimate, citing steady production despite lower domestic buying rates. Meanwhile, at the end of 2023, Chequered Plate prices in the German spot market continued to decline due to surplus supply and reduced demand. Rising production costs and decreased demand in manufacturing industries raised concerns, impacting companies like Arvedi Acciai Speciali Terni. The Chequered Plate sector in Germany faced challenges, including the removal of government subsidies for electric vehicles impacting sales. The latest price of SS Chequered Plate (304-5mm) Ex Ruhr in Germany for the last quarter is USD 3269/MT.

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