Mainstream ex-China steel plate offer prices from mills have been heard at $465-475/mt FOB for late July shipment as of today, Monday, May 25, moving up by $10/mt on average week on week, following a rising trend in the previous week.
Some steel plate producers halted giving export offer prices amid supply shortage, though a small volume of deal has been heard at $455/mt FOB to South America. The tradable value has increased by $5-10/mt over the week. Strong demand for steel plate in local market decreased the resources for the export market.
During the given week, following continuous rises over the previous period, steel plate prices have seen downward corrections. However, steelmakers have been unwilling to cut prices significantly amid support from raw material prices. At the same time, inventory of steel plate has seen decreases, which supported prices. It is thought that steel plate prices in the Chinese domestic market will move sideways in the coming week. Average Q235 20 mm steel plate spot prices in China have edged down by RMB 17/mt ($2.4/mt) week on week to RMB 3,796/mt ($533/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 25, HRC futures at the Shanghai Future Exchange are standing at RMB 3,405/mt ($478.2/mt), decreasing by RMB 35/mt ($5.0/mt) or 1.0 percent since May 18.
$1 = RMB 7.1209
