Ex-China steel plate export prices have remained stable over the past week amid a not so high supply-demand imbalance, unlike that seen in other segments like HRC.
Specifically, mainstream ex-China steel plate offer prices from big mills have been heard at $515-530/mt FOB as of today, Monday, August 3, moving sideways on average compared to July 27. Besides, the reference deal prices have been heard at $510-520/mt FOB to South America, Africa and the Middle East. Some demand has been seen at $510-515/mt FOB, also in Southeast Asia.
During the given week, steel plate prices in the Chinese domestic market have edged down amid the sluggish demand in the traditional off-season and the prevailing bearish sentiments among market players. Some steel plate producers have limited their outputs, providing support for prices. However, the ongoing high summer temperatures have still exerted a negative impact on the steel plate market. Inventories of steel plate have been at relatively low levels, bolstering prices to a certain degree. It is expected 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 declined by RMB 17/mt ($2.5/mt) compared to July 27, still standing at RMB 3,460/mt ($510/mt) ex-warehouse, according to SteelOrbis' information.
As of August 3, HRC futures at Shanghai Futures Exchange are standing at RMB 3,197/mt ($471/mt), decreasing by RMB 97/mt ($14.3/mt) or 2.9 percent since July 27, while down 1.02 percent compared to the previous trading day, July 31.
$1 = RMB 6.7898
