Ex-China steel plate export prices have remained stable over the past week.
Specifically, mainstream ex-China steel plate offer prices from large mills have been heard at $525-535/mt FOB as of today, Monday, July 6, remaining unchanged on average compared to June 29. 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 edged down slightly amid the slack demand from downstream users due to the widespread rainy weather and high temperatures. Inventories of steel plate have increased, exerting a negative impact on prices. Downstream users have only purchased in line with their needs, resulting in quiet transaction activities. It is expected that steel plate prices in the Chinese domestic market will soften in the coming week.
Average 20 mm Q235 20 steel plate spot prices in China have lost RMB 13/mt ($1.9/mt) compared to June 29, standing at RMB 3,467/mt ($509/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 6, HRC futures at Shanghai Futures Exchange are standing at RMB 3,289/mt ($483/mt), decreasing by RMB 30/mt ($4.4/mt) or 0.9 percent since June 29, while up 0.34 percent compared to the previous trading day, July 3.
$1 = RMB 6.8066
