Ex-China steel plate export prices have remained stable over the past week.
Specifically, mainstream ex-China steel plate offer prices from big mills have been heard at $515-530/mt FOB as of today, Monday, July 27, remaining stable on average compared to July 20. Besides, the reference deal prices have been heard at $510-520/mt FOB to South America, Africa and the Middle East, moving sideways week on week.
During the given week, steel plate prices in the Chinese domestic market have remained stable amid the prevailing cautious sentiments among market players. HRC futures prices have fluctuated within a limited range, affecting steel plate prices. The ongoing traditional off-season has exerted a negative impact on the steel plate market. Demand for steel plate has been slack with Typhoon Noul hitting south China, resulting in rising inventories. At the same time, prices of raw materials, including iron ore and coke, have declined, weakening the support for steel plate prices from the cost side. It is thought that steel plate prices in the Chinese domestic market will soften slightly in the coming week.
Average 20 mm Q235 20 steel plate spot prices in China have moved sideways compared to July 20, still standing at RMB 3,477/mt ($512/mt) ex-warehouse, according to SteelOrbis' information.
As of July 27, HRC futures at Shanghai Futures Exchange are standing at RMB 3,294/mt ($485/mt), decreasing by RMB 4/mt ($0.6/mt) or 0.1 percent since July 20, while up 0.34 percent compared to the previous trading day, July 24.
$1 = RMB 6.7911
