While steel plate prices in the Chinese domestic market have edged up amid decreasing inventory levels, ex-China steel plate prices have moved sideways this week considering the still slow demand coupled with the lack of clarity over the future price trend.
More specifically, mainstream ex-China steel plate offer prices from mills have been heard at $580-590/mt FOB for August shipment as of today, Monday, June 19, moving sideways compared to June 12. Reference deal prices have been heard at $575/mt FOB to South America and Southeast Asia, also remaining unchanged compared to June 12.
Meanwhile, heavy rainfall has hit eastern China, exerting a negative impact on the steel plate market due to the weakening sentiments among market players. At the same time, HRC futures prices have declined slightly on June 19, signaling the negative impact of the rainy weather. It is expected that steel plate prices in the Chinese domestic market may move on a fluctuating trend within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 50/mt ($7/mt) compared to June 12, standing at RMB 4,100/mt ($576/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 19, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,852/mt ($541/mt), increasing by RMB 89/mt ($12.5/mt) or 2.37 percent since June 12, while down by 0.75 percent compared to the previous trading day (June 16).
$1 = RMB 7.1201