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 $525-535/mt FOB as of today, Monday, June 29, remaining stable on average compared to June 22. Besides, the reference deal prices have been heard at $520-525/mt FOB to South America, Africa and the Middle East.
During the given week, steel plate prices in the Chinese domestic market have continued their downward trend amid producers’ steady capacity utilization. Demand for steel plate from downstream users has been slack, resulting in slow destocking and increasing inventories. High temperatures have exerted a negative impact on outdoor construction activities, and so traders have had to sell at lower prices to stimulate transaction activities. Since another wave of rainy weather is going to hit China, steel plate prices in the Chinese domestic market may edge down in the coming week.
Average 20 mm Q235 20 steel plate spot prices in China have lost RMB 23/mt ($3.4/mt) compared to June 22, standing at RMB 3,480/mt ($510/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 29, HRC futures at Shanghai Futures Exchange are standing at RMB 3,319/mt ($487/mt), decreasing by RMB 19/mt ($2.8/mt) or 0.57 percent since June 22, while up 0.21 percent compared to the previous trading day, June 26.
$1 = RMB 6.8175
