Mainstream ex-China steel plate offer prices from mills have been heard at $480-490/mt FOB for late August shipment as of today, Monday, June 29, moving up by $5/mt on average week on week, following a declining trend in the previous week. But the reference prices for deals have remained at $470-480/mt FOB.
Due to the rainy weather, floods and the Dragon Boat Festival, transaction activities in the domestic steel plate market have slowed down in China, but most steelmakers are confident as regards the future prospects, which will bolster steel plate prices.
During the given week, inventory of steel plate has seen slight increases - though they are still at relatively low levels - which provide some support for the steel plate market.
Average Q235 20 mm steel plate spot prices in China have edged down by RMB 7/mt ($1.0/mt) week on week to RMB 3,846/mt ($543.2/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 29, HRC futures at the Shanghai Future Exchange are standing at RMB 3,560/mt ($503/mt), increasing by RMB 27/mt ($3.8/mt) or 0.8 percent since June 22.
$1 = RMB 7.0808
