Mainstream ex-China steel plate offer prices from mills have been heard at $500-510/mt FOB for late October shipment as of today, Monday, August 3, moving up by $5/mt on average week on week due to the rises seen in low-end offer prices, continuing the rising trend in the previous week. Deal prices have been heard at $490-495/mt FOB, for small volumes, to South America.
Firm demand in the local market and increasing iron ore prices have provided support for ex-China steel plate prices. Meanwhile, it is heard that ex-Japan and ex-South Korea steel plate offer prices are more competitive than ex-China prices. Moreover, shipbuilding enterprises in China have been active in seeking low-priced steel plate imports.
During the given week, there have been limited supplies of steel plate arriving in the spot market. Some traders have chosen to raise their steel prices amid low inventory levels. At the same time, the high levels of iron ore prices have also bolstered the steel plate 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 3,946/mt ($564/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 3, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,911/mt ($559/mt), increasing by RMB 164/mt ($23.4/mt) or 4.4 percent since July 27.
$1 = RMB 6.998
