Mainstream ex-China steel plate offer prices from mills have mostly been heard at $520/mt FOB as of Monday, October 26, moving sideways on average week on week. However, deal prices have been heard at $508-510/mt FOB to Vietnam, moving down slightly by $3.5/mt on average compared to the range of $510-515/mt FOB in the previous week. Market players have started to worry that local demand will slacken in the approaching winter season, which will likely exert a negative impact on ex-China steel plate offer prices.
During the given week, demand for steel plate has been sluggish in the domestic market in China, while market participants have mostly held a wait-and-see stance towards purchases, resulting in low transaction activities. Meanwhile, inventory has seen slight rises, which may negatively affect the steel plate market.
Average Q235 20 mm steel plate spot prices in China have edged down by RMB 7/mt ($1.05/mt) week on week to RMB 3,956/mt ($593/mt) ex-warehouse, according to SteelOrbis’ information.
As of October 26, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,795/mt ($569/mt), increasing by RMB 55/mt ($8.2/mt) or 1.47 percent since October 19.
$1 = RMB 6.6725
