Mainstream ex-China steel plate offer prices from mills have been heard at $455-465/mt FOB for late July shipment as of today, Monday, May 18, moving up by $10/mt on average week on week following a stable trend in the previous week. The tradable value is heard at $445-450/mt FOB maximum. The rising trend in local steel plate prices amid higher ferrous metal futures prices, good demand and higher prices for feedstock have provided support for ex-China steel plate prices. Meanwhile, there have been limited steel plate volumes for the export market, and this has also bolstered steel plate prices. Japan has been active in seeking export opportunities, while Chinese suppliers have been focused on the local market. Ex-Japan steel plate is heard to have been sold at $430/mt CFR South Korea.
During the given week, bullish sentiments have prevailed in the local steel plate market in China due to increasing ferrous metal futures prices and rising raw material prices. Though inventory in the steel plate market has increased, it is still at relatively low levels, supporting steel plate prices in the Chinese domestic market. Average Q235 20 mm steel plate spot prices in China have edged up by RMB 93/mt ($13.1/mt) week on week to RMB 3,813/mt ($537/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 18, HRC futures at the Shanghai Future Exchange are standing at RMB 3,440/mt ($484.5/mt), increasing by RMB 111/mt ($15.6/mt) or 3.33 percent since May 11.
$1 = RMB 7.103
