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 1, moving up by $5/mt on average week on week, following a rising trend in the previous week.
Possible deal price levels from suppliers have been at $460-470/mt FOB to Southeast Asia and South America, which is $5-10/mt higher than last week. At the same time, buyers from Vietnam have been bidding at $450/mt FOB, while no deal was reached. Demand for steel plate in the local Chinese market has remained strong and mills have been not active in the export market.
During the given week, ferrous metal futures prices have moved up, exerting a positive impact on the steel plate market. Meanwhile, iron ore prices have surged, also bolstering steel plate prices from the cost side.
Average Q235 20 mm steel plate spot prices in China have edged up by RMB 27/mt ($3.8/mt) week on week to RMB 3,823/mt ($536/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 1, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,549/mt ($498/mt), increasing by RMB 144/mt ($20.2/mt) or 4.2 percent since May 25.
$1 = RMB 7.1315
