Mainstream ex-China steel plate offer prices from mills have been heard at $790/mt FOB for July shipment as of today, Monday, June 6, remaining stable compared to May 30. Reference deal prices have been heard at $780-790/mt FOB to South America and Southeast Asia, slightly higher than the $780/mt FOB heard a week ago. This signals gradual improvements in sentiments as futures prices in China are rising and the outlook is much better now.
During the given week, steel plate prices in the Chinese domestic market have moved sideways amid rising HRC futures prices. Shanghai lifted its lockdown as of June 1, while most industries have resumed production as of June 6, which bolstered market sentiment. Meanwhile, market players are optimistic towards the prospects for the future steel plate market. It is thought that steel plate prices in the Chinese domestic market will likely rise in the coming week.
Average Q235 20 mm steel plate spot prices in China have moved sideways compared to May 30, standing at RMB 5,053/mt ($757.6/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 6, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,845/mt ($726.4/mt), rising by RMB 112/mt ($16.8/mt) or 2.4 percent since May 30.
$1 = RMB 6.6691
