Mainstream ex-China steel plate offer prices from mills have been heard at $485-505/mt FOB for late September shipment as of today, Monday, July 20, moving up by $7.5/mt on average week on week following the stable trend in the previous week. Deal prices have been heard at $490/mt FOB for small volumes to South America, while last week the tradable value was $480-485/mt FOB.
Though rainy weather and floods have negatively affected the overall steel industry in China, demand for steel plate from downstream industries, including shipbuilding and container industries, has been good, which has provided solid support for steel plate prices and bolstered ex-China steel plate prices. However, buyers in the international market have been unwilling to buy ex-China steel plate due to high prices, while it is expected that China will likely import steel plate in the near future.
During the given week, there have been limited steel plate volumes arriving in the market, resulting in a supply shortage in the spot market and providing support for prices. Meanwhile, inventory of steel plate has relatively low, which has bolstered prices.
Average Q235 20 mm steel plate spot prices in China have edged up by RMB 4/mt ($0.56/mt) week on week to RMB 3,900/mt ($558/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 20, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,737/mt ($534.7/mt), decreasing by RMB 2/mt ($0.28/mt) or 0.05 percent since July 13.
$1 = RMB 6.9928
