Affected by the sharp rise of Formosa Ha Tinh Steel’s hot-rolled price of US$145/ton in June, the plate market has a strong atmosphere for price increases this week, and steel plate manufacturers are also preparing to increase prices accordingly.

Presently, domestic steel plates are in high demand by the construction steel structure industry, and the supply is in shortage. Both domestic and foreign sources are tight.

As the quotations of imported steel plates continue to rise, the circulating prices are supported and have to be followed up.

On the other hand, due to the sharp increase in the new plate prices of Baosteel in China and Formosa Ha Tinh Steel, the market expected that the plate price of China Steel Corp. (CSC) will also rise sharply for May, which will also drive the price increase of the steel plate industry.