Mainstream ex-China steel plate offer prices from mills have been heard at $485-490/mt FOB for late September shipment as of today, Monday, July 13, moving sideways on average week on week following a slightly rising trend in the previous week. Deal prices have been heard at $480-485/mt FOB for small volumes to Southeast Asia and South America, while the previous transaction was done at $485/mt FOB.
Though rainy weather and floods in China have exerted a negative impact on the steel plate market, market participants think that the market will improve after the rainy season.
During the given week, major Chinese steelmaker Baosteel raised its ex-works prices for steel plate by RMB 100/mt ($14/mt), which pushed up offer prices in the spot market. However, demand from downstream users has remained slack, resulting in quiet activities. Market players are cautiously optimistic as regards the future prospects for the steel plate market against the backdrop of normal inventory levels.
Average Q235 20 mm steel plate spot prices in China have edged up by RMB 53/mt ($7.7/mt) week on week to RMB 3,896/mt ($557/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 13, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,739/mt ($534/mt), increasing by RMB 134/mt ($19.2/mt) or 3.7 percent since July 6.
$1 = RMB 6.9965
