Mainstream ex-China steel plate offer prices from mills have been heard at $450-460/mt FOB for late June shipment as of today, Monday, April 27, moving sideways on average week on week following a decline in the previous week. The tradable value is heard at $440-445/mt FOB. Though offer prices of most steel plate producers have remained stable, lower counter bids may be accepted. The quite firm trend of local steel plate prices has prevented ex-China steel plate offer prices from recording a further decline, while competition with other sellers in the export markets has exerted pressure on Chinese suppliers. For instance, it is heard that Japan-origin steel plate has been available at $15-20/mt lower in South Korea compared to the price of ex-China plate.
During the given week, inventories in China have decreased amid ongoing inventory consumption. However, demand has not improved significantly. Meanwhile, with the approach of Labor Day holiday (May 1-5), market players are cautious as regards the future prospects for the market. Average Q235 20 mm steel plate spot prices in China have edged down by RMB 4/mt ($0.6/mt) week on week to RMB 3,626/mt ($513/mt) ex-warehouse, according to SteelOrbis’ information.
As of April 27, HRC futures at the Shanghai Future Exchange are standing at RMB 3,171/mt ($448.5/mt), decreasing by RMB 47/mt ($6.6/mt) or 1.46 percent since April 20.
$1 = RMB 7.0703
