Mainstream ex-China steel plate offer prices from mills have mostly been heard at $520/mt FOB as of today, Monday, October 19, edging down by $5/mt on average week on week.
Reference deal prices have been heard at $510-515/mt FOB, to Southeast Asia and South America, moving sideways compared to the previous week. Steelmakers in China have been unwilling to cut their export prices for steel plate sharply as local demand has remained at decent levels, though steel plate prices may come under downward pressure in November amid cold weather and reduced demand in the local market.
During the given week, steel plate prices in the domestic market in China have edged down amid the declines in ferrous metal futures prices and weakening HRC prices, while downstream users have been unwilling to conclude purchases and have preferred to maintain a wait-and-see stance. Meanwhile, inventory of steel plate has decreased and is still at relatively low levels, which will provide support for prices.
Average Q235 20 mm steel plate spot prices in China have edged down by RMB 20/mt ($3/mt) week on week to RMB 3,963/mt ($591.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of October 19, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,740/mt ($558/mt), decreasing by RMB 55/mt ($8.2/mt) or 1.45 percent since October 12.
$1 = RMB 6.701
