Mainstream ex-China steel plate offer prices from mills have been heard at $490-510/mt FOB for late September shipment as of today, Monday, July 27, moving up by $5/mt on average week on week, following a rising trend in the previous week. Deal prices have been heard at $490-495/mt FOB for small volumes to Southeast Asia and South America, while last week the contract price level was at $490/mt FOB.
Due to the support from strong demand in the local market and rising raw material prices, ex-China steel plate offer prices have moved up further in the given week, while demand from overseas markets has remained slack. Demand from downstream industries, including wind power, containers and machinery, has been good, which will bolster steel plate prices in the future.
During the given week, inventory of steel plate has been relatively low amid insufficient supplies arriving in the market.
Average Q235 20 mm steel plate spot prices in China have edged up by RMB 23/mt ($3.3/mt) week on week to RMB 3,923/mt ($560.2/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 27, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,747/mt ($535/mt), increasing by RMB 8/mt ($1.1/mt) or 0.21 percent since July 20.
$1 = RMB 7.0029
