Mainstream ex-China steel plate offer prices from mills have been heard at $550-560/mt FOB for January shipment as of today, Monday, November 6, edging up by $5/mt on average compared to October 30. Reference deal prices have been heard at $550/mt FOB to South America and Southeast Asia, rising by $5/mt compared to October 30.
During the given week, HRC futures prices have moved up, positively affecting steel plate prices in the Chinese domestic market. Transaction activities have improved, also bolstering steel plate prices. Moreover, sentiments among market players have improved amid the issuance of stimulus policies in China. At the same time, import iron ore prices have increased, providing solid support for steel plate prices from the cost side. However, since the weather is getting colder, demand for steel plate may slacken in the future, which would weaken the support for the market. It is expected that steel plate prices in the Chinese domestic market will edge up slightly in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 73/mt ($10.2/mt) compared to October 30, standing at RMB 3,913/mt ($545/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 6, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,895/mt ($542.5/mt), increasing by RMB 39/mt ($5.4/mt) or 1.0 percent since October 30, while up 0.28 percent compared to the previous trading day.
$1 = RMB 7.178