Mainstream ex-China steel plate offer prices from mills have been heard at $485-490/mt FOB for late August shipment as of today, Monday, July 6, edging up by $2.5/mt on average week on week, following a rising trend in the previous week. A deal price of $485/mt FOB has been heard for small volumes.
Though demand from overseas buyers has remained slack, ex-China steel plate offer prices have increased slightly amid rises on the low end due to relatively firm demand in the local market.
During the given week, traders have lacked confidence in the future prospects for the steel plate market due to continuing rainy weather and floods, while they have been unwilling to lower sales prices amid the high levels of booking prices from steelmakers.
Average Q235 20 mm steel plate spot prices in China have edged down by RMB 3/mt ($0.4/mt) week on week to RMB 3,843/mt ($544/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 6, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,605/mt ($503/mt), increasing by RMB 45/mt ($6.4/mt) or 1.3 percent since June 29.
$1 = RMB 7.066
