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 15, moving up by $10/mt on average week on week. A small volume of steel plate has been sold at $480/mt FOB to South America, while demand from Asia has been low. Asian customers have preferred to buy plate of other origins at lower prices. For instance, in early June Indian plate was sold at $450/mt CFR Vietnam. Material from South Korea was priced at $460/mt CFR Southeast Asia a week ago.
Currently, demand for steel plate in the local market in China has continued to be strong and so bullish sentiment has prevailed among market players. It is thought that ex-China steel plate prices will stay strong in the near future.
During the given week, inventory of steel plate has been at similar levels compared to the previous week, still relatively low, which will provide some support for prices. However, the rainy season in eastern and southern China has negatively affected demand for steel plate.
Average Q235 20 mm steel plate spot prices in China have edged down by RMB 3/mt ($0.4/mt) week on week to RMB 3,840/mt ($541.6/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 15, HRC futures at the Shanghai Future Exchange are standing at RMB 3,533/mt ($498.3/mt), decreasing by RMB 9/mt ($1.3/mt) or 0.25 percent since June 8.
$1 = RMB 7.0902
