Mainstream ex-China steel plate offer prices from mills have been heard at $470-480/mt FOB for late July shipment as of today, Monday, June 8, moving sideways on average week on week following a rising trend in the previous week. A small volume of steel plate has been sold at $470/mt FOB to South America.
Demand for steel plate in the local market has been strong, with supplies for July shipment being sold out and suppliers ready to raise their prices for August shipment. It is thought that ex-China steel plate prices will fluctuate within a limited range at current high levels.
During the given week, since steel plate has been in short supply, steelmakers have been seeking to increase their ex-works prices, which has pushed up prices in the spot market. Meanwhile, the inventory of steel plate has been at relatively low levels, bolstering steel plate prices. At the same time, iron ore prices have moved up, providing solid support for steel prices from the cost side.
Average Q235 20 mm steel plate spot prices in China have edged up by RMB 20/mt ($2.8/mt) week on week to RMB 3,843/mt ($542/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 8, HRC futures at the Shanghai Future Exchange are standing at RMB 3,542/mt ($498/mt), decreasing by RMB 7/mt ($1/mt) or 0.2 percent since June 1.
$1 = RMB 7.0882
