Ex-China steel plate export prices have moved sideways 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 20, moving sideways on average compared to July 13. Besides, the reference deal prices have been heard at $510-520/mt FOB to South America, Africa and the Middle East, remaining stable week on week.
During the given week, steel plate prices in the Chinese domestic market have seen rises as some producers have continued to implement maintenance works, reducing outputs and easing the pressure from the supply side. Inventories have indicated slight rises. Downstream users have been cautious as regards concluding purchases of steel plate. Due to the high temperatures and sporadic heavy downpours, demand for steel plate is unlikely to improve in the short term. It is expected that steel plate prices in the Chinese domestic market will come under downward pressure in the coming week.
Average 20 mm Q235 20 steel plate spot prices in China have gained RMB 10/mt ($1.5/mt) compared to July 13, standing at RMB 3,477/mt ($512/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 20, HRC futures at Shanghai Futures Exchange are standing at RMB 3,298/mt ($486/mt), increasing by RMB 26/mt ($3.8/mt) or 0.8 percent since July 13, while down 0.84 percent compared to the previous trading day, July 17.
$1 = RMB 6.7948
