Mainstream ex-China steel plate offer prices from mills have been heard at $870-900/mt FOB for August shipment as of today, Monday, July 5, moving down by $10/mt on average compared to June 28.
Some deals have been heard at $860-900/mt FOB to South America and Southeast Asia, but the cautious sentiments during the traditional offseason have persisted, weakening support for the steel plate market.
During the given week, local steel plate prices in the Chinese domestic market have declined amid the sluggish demand from downstream users and the prevailing bearish sentiments among market players. Inventory of steel plate has increased slightly, exerting a negative impact. It is thought that steel plate prices may fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 107/mt ($16.6/mt) week on week to RMB 5,316/mt ($823/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 5, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,494/mt ($849/mt), increasing by RMB 169/mt ($26/mt) or 3.2 percent since June 28.
$1 = RMB 6.4695
