Mainstream ex-China steel plate offer prices from mills have been heard at $580-590/mt FOB for August shipment as of today, Monday, June 26, remaining stable compared to June 19. Reference deal prices have been heard at $575/mt FOB to South America and Southeast Asia, also remaining unchanged compared to June 19.
During the given week, steel plate prices in the Chinese domestic market have edged down amid the increasing inventory level. Meanwhile, the demand has been slack due to the Dragon Boat Festival holiday (June 22-25). Moreover, the large-scale heavy rains in eastern China and extremely high temperature in northern China negatively affected market players’ sentiments. Since the rainy weather will continue in the coming period, demand for steel plate will unlikely see significant improvement. It is expected that steel plate prices in the Chinese domestic market will likely edge down in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 50/mt ($7/mt) compared to June 19, standing at RMB 4,050/mt ($562/mt) ex-warehouse, according to SteelOrbis’ information.
As of Jun 26, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,755/mt ($521/mt), decreasing by RMB 97/mt ($13.5/mt) or 2.5 percent since June 19, while down 1.37 percent compared to the previous trading day.
$1 = RMB 7.2056
